4. Which statements are true of optimization? Select one or more: a. It is a general mathematical tool and can be used n

[answerhappygod]

4. Which statements are true of optimization?
Select one or more:
a.
It is a general mathematical tool and can be used not only in
portfolio optimization but many business problems
b.
When applied in real world setting we often use computers to
estimate the optimum numerically rather than doing calculus by
hand
c.
One of the earliest applications of optimization to business
problems is Augustin Cournot's 1838 duopoly pricing model
d.
Optimization can only ever be as effective as the description of
the objective function
e.
The selection of the FOC at zero is an arbitrary choice but
allows for the identification of inflection (turning points) in the
objective function
f.
When optimizing by hand you differentiate the objective function
with respect to the control variables of the economic entity at
hand