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Mice21 [21]
3 years ago
13

In economics, rational decisions occur when

Business
2 answers:
joja [24]3 years ago
6 0

Answer:

Explanation:

Rational decision making is a multi-step process for making choices between alternatives. The process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. The word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

The benchmark for making effective decisions. Rational decision making brings a structured or reasonable thought process to the act of deciding. ... This can be very important when making high value decisions that can benefit from the help of tools, processes, or the knowledge of experts.

labwork [276]3 years ago
4 0

Answer:

rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs. Deciding by thinking at the margin is just like making any other decision. A rational decision occurs when the marginal benefits of an action equal or exceed the marginal cost.

Explanation:

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All of the following costs are likely to decrease as a result of better quality except:
swat32

Answer:

The correct answer is (d)

Explanation:

Better quality can help to reduce many costs such as customer’s dissatisfaction cost, inspection cost and warrant and service cost. When customers don't like the quality of the product they are likely to buy the same product from somewhere else that is the dissatisfaction cost. Still, maintenance cost is likely to incur no matter how good the quality is. Maintenance cost helps to keep the product clean and fresh for long-term use.

5 0
3 years ago
Suppose a ten firm industry has total sales of​ $35 million per year. The largest firm have sales of​ $10 million, the third lar
lyudmila [28]

Answer:

0.66

Explanation:

the fourfirm concentration ratio is the sum of the concentration ratio of the four largest firms in the industry.

The sales of the second largest firm = $35 million - ( $10 million + $4 million+ $2 million + $12 million ) = $7 million

concentration ratio of firm 1 = $10 million / $35 million = 0.29

concentration ratio of firm 2  = $7 million / $35 million = 0.2

concentration ratio of firm 3 = $4 million / $35 million = 0.11

concentration ratio of firm 4 = $2 million / $35 million = 0.06

Adding the ratios together = 0.66

3 0
2 years ago
Cnooc, a Chinese public-sector company, has made a bid to purchase Canada’s Nexen, a big oil company, for C$ 15.1 billion in Jun
Phoenix [80]

Answer:

351,830,000 Yuan

Explanation:

Investment value = C$ 15.1 billion

Value in Yuan in June 2012 =   C$ 15.1 billion x  6.3698 Yuan/C$

Value in Yuan in September 2012 =   C$ 15.1 billion x  6.3465 Yuan/C$

The difference in Yuan if Cnooc has purchased Nexen in September instead of June is:

D= 15,100,000,000*(6.3698 - 6.3465)\\D= 351,830,000 \ Yuan

Cnocc saves 351,830,000 Yuan

3 0
2 years ago
This document shows that you are allowed to work in the United States:
Stolb23 [73]

Answer:

d. work permit

Explanation:

The work permit is also referred to as the Employment Authorization Document or EAD. A work permit has the same design as a driver's license. It is issued by US Citizenship and Immigration Services (USCIS).

Foreigners coming into the US need to obtain a work permit to enable them to seek employment. The work permit card is presented to potential employers as proof that a person is duly authorized to work in the USA.

7 0
3 years ago
Read 2 more answers
•What are the five factors of production and how do they contribute to the creation of wealth?
nordsb [41]
Two factors of production that seem to contribute the most to a nation's ability to create wealth are : Entrepreneurship and knowledge.
Germany for example, is not a country that have many resources. But through entrepreneurship and knowledge, they still are one of the world's greatest power
4 0
2 years ago
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