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Linear Programming

In: Modern Microeconomics

Author

Listed:
  • A. Koutsoyiannis

    (University of Waterloo)

Abstract

Linear programming is a recently devised technique for providing specific numerical solutions of problems which earlier could be solved only in vague qualitative terms by using the apparatus of the general theory of the firm. Linear programming has thus helped to bridge the gap between abstract economic theory and managerial decision-making in practice. The use of linear programming is expanding fast due to the use of computers which can quickly solve complex problems involving the optimal use of many resources which are given to the firm in any particular time and thus set constraints on the firm’s choice.

Suggested Citation

  • A. Koutsoyiannis, 1975. "Linear Programming," Palgrave Macmillan Books, in: Modern Microeconomics, chapter 20, pages 414-434, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-15603-0_20
    DOI: 10.1007/978-1-349-15603-0_20
    as

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