1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
JulijaS [17]
4 years ago
10

Herbert Simon:________

Business
1 answer:
deff fn [24]4 years ago
4 0

Answer:

Herbert Simon:

B) believed that firms always maximize profits even if they have less than perfect information.

Explanation:

Herbert Simon was born in 1916 and died in 2001. He was a renowned economists and political scientists having received numerous awards and Prizes for his contribution in economics, particularly business economics and administrative research. Some of the awards and prizes he received due to his input in economics are; Nobel Memorial Prize in Economics, U.S. National Medal of Science, and the A.M. Turing Award for his contribution in the field of Artificial Intelligence.

Simon also authored numerous books during his time including; "Administrative Behavior", "The Sciences of the Artificial", and "Models of Bounded Rationality". He is mostly known for his theory about bounded rationality. Simon challenged conventional economic thinking based on the ideas of rational thinking and economic man. Previously, economists believed that people made economic decisions based on careful analysis of all available information to arrive at rational conclusions. Simon contradicted this idea by stating that people could not possibly have access to all information and they were somehow limited in coming up with rational outcomes. He argued that since it was impossible to obtain and process all information, most people would utilize the available information to come out with a result that is satisfactory or one that is simply good enough.

In conclusion he outlined that firms always utilize the information available to them to maximize profits even if the information is less than perfect.

You might be interested in
Valerie has opened a new startup company in web design. Within the first month of business, the startup agrees to maintain an ac
myrzilka [38]

Answer:

The correct answer is d. There are gains from trade.

Explanation:

In this situation a profit is presented for both companies, because the described relationship represents the main activity that each one performs, but in turn, details the need of each one for a service that generates value, since a company, As a capital company, it is a machinery whose purpose is the generation of value: the investment of economic resources, contributed by the ownership of the company, allows generating new wealth (value), in the most general case, thanks to the work of its employees. The first reason for the investment of resources is that additional generation of wealth that is expected to be achieved. Under these conditions, it seems clear that the objective of any manager of a company should be the generation of value for the shareholder.

5 0
3 years ago
What type of estimate is a cost estimation tool that involves estimating individual work items or activities and summing them to
Travka [436]

The answer is Bottom-Up estimates.

Bottom-up estimating involves the estimation of work at the lowest possible level of detail.

The estimates so calculated are then aggregated to arrive at summary totals. The probability to meet the estimated amounts improves substantially by building detailed cost and time estimates for a work package.

In other words, bottom-up estimating approximates an overall value by approximating values for smaller items and using the sum of these values as the overall value.

This cost estimation tool is often used when detailed information is available about lower-level activities. It can be especially useful when estimating projects that are similar to ones that were completed in the past.

Hence, a Bottom-Up estimate is a cost estimation tool that involves estimating individual work items or activities and summing them to get a project total.

Learn more about Cost:

brainly.com/question/25109150

#SPJ4

6 0
2 years ago
Cost $7.20 $11.00 $11.75 $6.30 $7.65 Net realizable value 8.95 10.20 13.35 5.50 6.80 Net realizable value less normal profit 8.3
Dmitrij [34]

Answer:

I used an excel spreadsheet to calculate each unit's ending inventory price:

Product 1 = $7,20

Product 2 = $10,20

Product 3 = $11,75

Product 4 = $5,25

Product 5 = $5,60

Download pdf
3 0
3 years ago
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) 50 POINTS!
ahrayia [7]
A because B only happens when lottery winners show the faces and stuff but most of them don’t and also C is wrong because if they thought about it thoroughly they wouldn’t be having financial problems
5 0
3 years ago
Three stocks have share prices of $37, $115, and $85 with total market values of $540 million, $490 million, and $290 million, r
BaLLatris [955]

Answer:

Index Value= 39

Explanation:

Index Value=(37+115+85)/3=39

5 0
3 years ago
Read 2 more answers
Other questions:
  • Dan Dentist was selling the building in which his office was located so that he could relocate to a larger space. Ron, a very ag
    11·1 answer
  • In Drosophila melanogaster, the gene for eye color is located on the X chromosome. The allele for red eye color (Xw+) is dominan
    13·1 answer
  • The net income reported on the income statement for the current year was $240,000. Depreciation was $52,000. Accounts receivable
    9·1 answer
  • You recently conducted a series of interviews for an accounting position at your law firm. You’ve decided on a candidate but nee
    10·1 answer
  • Prema has read many books about pregnancy. Each gives a different estimate for how many pregnancies end in miscarriage. Given wh
    13·1 answer
  • On November 30, Petrov Co. has $105,400 of accounts receivable and uses the perpetual inventory system. Dec. 4 Sold $6,505 of me
    14·1 answer
  • What is medium level profession​
    6·1 answer
  • Exercise 7-16 (Algo) Estimating bad debts LO P3 At December 31, Folgeys Coffee Company reports the following results for its cal
    15·1 answer
  • 1 What are the central problems of an economy? Discuss them in detail.
    10·1 answer
  • If a breakthrough in battery technology enables cell phone manufacturers to construct phones with the same battery life for less
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!