What are the things that should be Maximize? and Minimize in Operational Research.
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the things we should minimize is COST, while the things we should maximize are PROFIT.
Maximize
Time, Energy, profit
Minimize
Cost, Errors, Materials
Maximize:
Profit
Revenue
Utilization
Market Share
Minimize:
Cost
Waste
Time
Risk
Costs should be kept to a minimum, while profits ought to be increased.