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.
Answer:
$0
Explanation:
Given that
Number of orders received = 125 units
Price for their product = $15
Number of units delivered = 125 units
Payment received in march in units = 63 units
Payment received in April in units = 63 units
Based on the above information, the revenue recognized on the march income statement is $0 as all units are delivered on April month so no revenue is recognized
Answer: It is answer B.
Explanation:
I done this in class and my teacher check it
Answer:
False
Explanation:
The expected value of each course of action in a decision tree is not determined by starting at the beginning of the tree, instead it is a process because you need to make a desition and in some extend you espect to have some results but some of them are uncertain or unespected. in this kind of scheme Squares represent decisions, and circles represent uncertain outcomes. Then you need to calcule the desition nodes giving each option a cost or value, This will give you a value that represents the benefit of each decision. at the end calculating choose the option that has the largest benefit, and take that as the decision made. This is the value of that decision node.
Answer:
Have a growth mindset, practice discipline, learn to follow other, set situational awareness
