Optimal Control Theory
I will talk about the Hamilton-Jacobi-Bellman equation. But, for more information, you can read this book. There are information about Dynamic Programming and Calculus of Variation for optimal control problems.
Suppose you have a system with the dynamic described by the state equation:
$\dot{\vec{x}} = f(\vec{x}, \vec{u})$
were $\vec{x}$ is the state variables and $\vec{u}$ the control inputs.
Usually, to control a system, we wish to minimize a performance measure:
$J = h(\vec{x}(T), \vec{u}(T)) + \int_{0}^{T} g(\vec{x}(t), \vec{u}(t), t) dt $
were h($\cdot$) and g($\cdot$) are known as the terminal cost and functional, respectively.
For your first question:
What is known about how many solutions for $\vec{u}$ exist for such a problem?
The number of feasible control inputs, $\vec{u}$, are not relevant for the problem. The question we are looking for the answer is: there exist an optimal control law, $\vec{u}^{*}$, such that the performance measure is satisfied?
For your second question:
How do engineers address/interpret the existence of multiple solutions?
To deal with those feasible solutions, we try to solve the minimization problem.
Defining the Hamiltonian as:
$\mathcal{H} = g(\vec{x}(t), \vec{u}(t), t) + \frac{\partial J}{\partial x}\big( f(\vec{x}, \vec{u}) \big)$
Is necessary and, for no boundaries conditions, sufficient to show that:
$\frac{\partial\mathcal{H}}{\partial \vec{u}} = 0$ and $\frac{\partial^{2}\mathcal{H}}{\partial \vec{u}^{2}} > 0$
The solution of this partial derivative of the Hamiltonian will give you the optimal control law, $\vec{u}^{*}$.
I hope this is useful. Sorry if it is a little to much abstract.
Best regards.