How can linear programming be applied to economics?

1 Answer
Nov 23, 2017

Linear programming can be used to figure out the best outcomes.


Linear programming was utilized with the intention of furthering microeconomics. Even today, this method is used to manage companies. Tracing back to the best possible outcomes assist with planning and and producing. It is the ideal way for economists and other mathematical positions to figure out how to maximize their profits and/or minimize their costs.