You Want to Sell Your Old IPad That You No

question 32

Multiple Choice

You want to sell your old iPad that you no longer use,and your cousin wants to give you $300 for it.If you decide to sell your iPad to your cousin,you'll have to pay $40 for shipping the iPad to your cousin.As a rational decision maker,you should:

• A)sell it because the marginal benefit is smaller than the marginal cost.
• B)not sell it because the marginal benefit is smaller than the marginal cost.
• C)sell it because the marginal benefit is greater than the marginal cost.
• D)not sell it because the marginal benefit is greater than the marginal cost.
• E)sell it because the marginal benefit is equal to the marginal cost.

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Definitions:

Corrective Actions

Corrective actions refer to steps taken to identify, eliminate, and prevent the recurrence of undesirable behaviors or conditions in an organization or process.

Necessary

Essential or needed to achieve a specific outcome or fulfill a particular need.

Numerical Quotas

Limits set on the quantity of a specific product that can be imported or exported during a given time frame for regulatory or trade policy purposes.

Deming's 14 Points

A framework for quality improvement and leadership in the workplace, developed by W. Edwards Deming.