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klemol [59]
3 years ago
12

The process of choosing an option after evaluating the available information and weighing the costs and benefits of the alternat

ives is called _____________________________.
Business
1 answer:
ozzi3 years ago
5 0

Answer: Decision-Making

Explanation:

Decision-making is the process by which we choose the best perceived alternative to follow after evaluating the available alternatives for their costs and benefits.

These costs and benefits are not only monetary in nature. They can include our values as well as our beliefs and the things we prefer. They also include time as well. Every decision is unique with these and that is why every decision must be evaluated in its own right.

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If the European Union put a quota on American jeans only allowing a small portion to be imported the demand for the jeans would rise even though the supply would not follow that.  When there is a small limit on something that consumers want, the price usually goes up because they know they will sell the items regardless and in this case that may happen. The price of jeans will rise, the demand will rise, but the supply will not.

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The short-run average total cost (ATC) curve of a firm will tend to be U-shaped because Group of answer choices larger firms alw
DaniilM [7]

Answer:

at low levels of output, AFC will be high, while at high levels of output, MC will be high as the result of diminishing returns.

Explanation:

In Economics, the law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.

The short-run average total cost (ATC) curve of a firm will tend to be U-shaped because at low levels of output, average fixed cost (AFC) will be high, while at high levels of output, marginal cost (MC) will be high as the result of diminishing returns.

This ultimately implies that, the average fixed cost (AFC) will be high at small (low-level) output rates while marginal cost (MC) will be high at large (high-level) output rates due to diminishing marginal returns.

As a result of the law of diminishing marginal returns, a business firm would experience some rising per unit costs in the short-run.

In conclusion, an increase in the level of output for a business firm will eventually lead to an increase in average total cost (ATC) and marginal cost (MC) due to the law of diminishing marginal returns.

8 0
3 years ago
Marigold Corp. has begun and ending raw materials inventories of $64000 and $80000, respectively. If direct materials used were
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Answer:

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Explanation:

Please find the attached file for the calculation.

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A major drawback of using historical results for judging current performance is that _____. A. past results may be incorrect B.
pychu [463]

Answer:

C. inefficiences may be concealed in the past performance.

Explanation:

A major drawback of using historical results for judging current performance is that inefficiences may be concealed in the past performance.

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