A hypothetical management science problem requires us to find the cheapest "supercircuit" in a graph. Three algorithms are available: Algorithm 1, Algorithm 2, and Algorithm 3.
Algorithm 2 sometimes produces the cheapest supercircuit but most of the time it produces a supercircuit that is only close to being the cheapest. The amount of time it takes to carry out Algorithm 2 is: 1 second for a graph with 1 vertex, 2 seconds for a graph with 2 vertices, . . . 5 seconds for a graph with 5 vertices, and so on. Algorithm 2 is
◦ an approximate and inefficient algorithm.
◦ an optimal and efficient algorithm.
◦ an optimal and inefficient algorithm.
◦ an approximate and efficient algorithm.
◦ none of these
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