A decision-making method called satisficing aims for a satisfactory or adequate outcome rather than the best one. Satisficing concentrates on practical effort when faced with tasks rather than exerting maximal effort to achieve the ideal result. This is due to the possibility that pursuing the ideal outcome will result in an unnecessary drain on time, effort, and resources. In order to achieve the first feasible solution that yields minimally acceptable results, the satisficing strategy can involve taking a minimalistic approach. Satisficing reduces the range of options that are taken into account to obtain those objectives, eliminating alternatives that would necessitate more demanding, complicated, or impractical efforts in an effort to produce more ideal outcomes.

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4 0

2 years ago

If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium pri

never [62]

Answer:

If the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to rise and the equilibrium quantity to stay the same.

Explanation:

Perfectly inelastic demand curve indicates the quantity demanded for the life-saving medicine remains the same or does not change in response to a change in price.

Since a part of the law of supply states that the lower the quantity supplied, the higher the price; a reduction in the supply of the life-saving medicine will increase its price.

The combining effect of the two above will lead to an increase in the equilibrium price while the equilibrium quantity will remain the same as it will not respond to the change in price.

The attached graph explains this more clearly. In the graph, the demand curve DD is used to represent the perfectly inelastic demand curve for the life-saving medicine. Therefore, the quantity remains at q no matter the changes, either increase or decrease, in price. Movement from the supply curve S1 to S2 indicates a reduction in supply of the life-saving medicine which causes an increase in the equilibrium price from Po to P1 while the equilibrium quantity stays at q.

This therefore shows that if the demand curve for a life-saving medicine is perfectly inelastic, then a reduction in supply will cause the equilibrium price to rise and the equilibrium quantity to stay the same.

8 0

3 years ago

Can you use a Go Pro at sea world with a chest mount

stira [4]

You can use a GoPro at Disney as long as it isn't on a selfie stick/gopole. If you have it on a chest mount, head mount, wrist or hand mount it is ok.

8 0

4 years ago

The anterior lobe of the highlighted structure secretes all of the following except ___. a) follicle stimulating hormone b) adre

KiRa [710]

Answer:

d) oxytocin

Explanation:

A major part of the endocrine system is the size of glandular together with the posterior lobe makes the pituitary gland.

The oxytocin is a hormone that is released by the posterior lobe that is a pea-size structure. This hormone is responsible for the feelings of love, the bonding and well-being.

It is normally produced by the hypothalamus and plays a role in the childbirth and social bonding.

6 0

3 years ago