Linear programming involves finding the maximum or minimum value of a linear objective function, subject to linear constraints.
The objective function is of the form: \[ Z = ax + by, \] where \( Z \) is the value to be optimized, and \( x, y \) are variables subject to constraints. The correct answer is (B) linear function.
On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 – 23, using 2020 – 21 as the base year.
Year | Nominal GDP | Nominal GDP (Adjusted to Base Year Price) |
2020–21 | 3,000 | 5,000 |
2022–23 | 4,000 | 6,000 |