Economic Theory Is a Valuable Tool for Business Decision Making

question 18

Multiple Choice

Economic theory is a valuable tool for business decision making because it

• A)acts like a road map to abstract away from nonessential matters to allow managers to concentrate on the relevant items for making a decision.
• B)creates a realistic,complex model of the business decision.
• C)allows managers to apply the economic way of thinking to make valid explanations and predictions about real world business problems.
• D)both a and c
• E)a,b and c

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