The Uncertainty Associated with Every Decision Is Referred to As

question 5

Multiple Choice

The uncertainty associated with every decision is referred to as:

• A)opportunity cost.
• B)selection of alternatives.
• C)financial goals.
• D)personal values.
• E)risk.

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Definitions:

Marginal Revenue

The extra revenue obtained through the sale of an additional unit of a product or service.

Producing Unit

A division or component of a business that is responsible for the creation of specific products or services.

Marginal Cost

The additional cost incurred by producing one more unit of a product or service.

Producing Unit

A part of a company or a machine that is responsible for manufacturing or creating goods.