1. Helps in attaining the optimum use of productive factors.
2. Improves the quality of decision.
3. It gives insights and perspective into problem situations.
4. Enables one to consider all possible solutions to problems.
5. It's a better tool for adjusting to meet changing conditions.
OR
1. Allocation problems are solved.
2. Provides possible and practical solutions.
3. Improves the quality of decisions.
4. Highlights the constraints in the production.
5. Helps in optimum use of resources.
6. Provides information on marginal value products (shadow prices).
Jonmhumble answered the question on November 3, 2017 at 18:29
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