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What best explains why minimizing costs is a rational way to make decisions?
Wiki User
∙ 6y ago
paying a cost means doing without something good or accepting something bad
Wiki User
∙ 6y ago
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Which of the following best explains why minimizing costs is a rational way to make decisions?
Paying a cost means doing without something good or accepting something badPaying a cost means doing without something good or accepting something bad.
Rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs?
Rational Decision making occurs when marginal benefits of an action exceed the marginal costs
What best explains why considering opportunity costs is a rational thing for consumers do?
What you sacrifice for a decision is one of the non-monetary costs of many choices.
What is an economic perspective?
Economic perspective is a viewpoint that envisions individuals and institutions making rational decisions by comparing the marginal benefits and marginal costs associated with their actions.
What benefit analysis is a process that involves?
Maximizing benefits and minimizing costs
Which of the following best explains why minimizing costs is a rational way to make decisions?
Paying a cost means doing without something good or accepting something badPaying a cost means doing without something good or accepting something bad.
What explains why considering opportunity costs is a rational thing for consumers to do?
What you sacrifice for a decision is one of the non-monetary costs of many choices.
Rational decisions occur when the marginal benefits of an action equal or exceed the marginal costs?
Rational Decision making occurs when marginal benefits of an action exceed the marginal costs
What best explains why considering opportunity costs is a rational thing for consumers do?
What you sacrifice for a decision is one of the non-monetary costs of many choices.
Explain why minimizing costs is a rational way to make a decision?
paying a cost means doing without something good or accepting something bad
Which of the following best explains why considering opportunity cost is a rational thing for consumer to do?
What you sacrifice for a decision is one of the non-monetary costs of many choices
What is an economic perspective?
Economic perspective is a viewpoint that envisions individuals and institutions making rational decisions by comparing the marginal benefits and marginal costs associated with their actions.
What benefit analysis is a process that involves?
Maximizing benefits and minimizing costs
What ratio sHows an organization's effectiveness in minimizing production costs?
efficiency ratio
What Cost-benefit analysis is a process that involves?
Maximizing benefits and minimizing costs
What cost benefit analysis is a process that involves?
Maximizing benefits and minimizing costs
Which ratio shows an organizations effectiveness in minimizing production costs?
There are two measures of production costs: total costs and marginal costs. The relevant ratio depends on which of these is being minimised.
