Which of the Following Is a Production Decision

question 17

Multiple Choice

Which of the following is a production decision?

• A)How much output the firm should produce in the long run.
• B)Whether the firm should shut down or produce.
• C)Whether the firm should exit or enter the market.
• D)Whether the firm should merge with one of its rivals.

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Definitions:

Group Polarization

Group polarization refers to the tendency for a group to make decisions that are more extreme than the initial inclination of its members, following group discussion.

Social Facilitation

The inclination of individuals to behave differently around others than when by themselves, usually showing improvement in easy or practiced tasks.

Collectivism

A social theory prioritizing the needs and goals of the group over the desires or needs of any one individual.

Individualism

A social and cultural ethos that emphasizes the self-expression and autonomy of the individual, often over community or societal norms.