SELECT ALL THAT APPLY

question 42

Multiple Choice

SELECT ALL THAT APPLY. If decision makers are assumed to be rational actors, which of the following assumptions holds?

• A) They have preset goals or preferences.
• B) They select the course of action that maximizes their goals and minimizes costs.
• C) They calculate costs and benefits mostly in material terms.
• D) They act as a composite of multiple actors, engaging in bargaining and trade-offs.

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Definitions:

Market Share

The proportion of total sales or revenue that a company or product secures within a particular market, compared to competitors.

Cost Leadership Strategy

A business strategy focusing on gaining a competitive advantage by becoming the lowest cost producer in the industry.

Differentiation Strategy

A competitive strategy in which a company seeks to distinguish its products or services from those of competitors on dimensions such as quality, design, or customer service.

Source Of Differentiation

Unique features or aspects of a product, service, or brand that set it apart from competitors and provide a competitive edge.