An Optimal Decision Is One That Is Selected Based on an Analysis

question 186

Multiple Choice

An optimal decision is one that is selected based on an analysis of

• A)explicit costs but not implicit costs.
• B)implicit costs but not explicit costs.
• C)both explicit costs and implicit costs.
• D)neither explicit costs nor implicit costs.

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Definitions:

Organization's Members

Individuals who belong to and contribute to a collective entity, such as a company or society, through their roles, responsibilities, and efforts.

360-degree System

A feedback mechanism that involves collecting performance assessments from an employee’s supervisors, peers, subordinates, and sometimes customers.

Bottom-line Performance

Refers to the net income, profit, or the overall financial health of an enterprise as the ultimate measure of its success.

Organization Websites

The online platforms that represent businesses, non-profits, or any entities, providing information about their activities, services, and how to engage with them.