Recall the Application About the Best Speed at Which to Sail

question 26

Multiple Choice

Recall the Application about the best speed at which to sail an ocean cargo ship to answer the following question(s) .
-Saving time by driving faster is an example of a ________ of driving faster. Increasing the severity of injuries from a potential accident due to driving faster is a(n) ________ of driving faster.

• A) nominal cost; real cost
• B) marginal cost; nominal cost
• C) marginal benefit; marginal cost
• D) normative benefit; opportunity cost

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Definitions:

Absenteeism

The habitual non-presence of an employee at their job, which can be due to various reasons including illness, personal matters, or disengagement with work.

High Cost

pertains to an expense that is considerably above the average or expected expenditure on goods or services.

Practices

Established methods or procedures followed by individuals or organizations in a specific field or profession.

External

Coming from outside a particular place or context, often referring to factors or influences that are outside of an individual's or organization's control.