If Payoffs Are Costs Rather Than Profits, Then

question 68

Multiple Choice

If payoffs are costs rather than profits, then

• A) using any quantitative decision making tools is not possible at all.
• B) it is necessary to find more financial data of the company to determine the profits.
• C) the tools have to be adjusted so that a profit maximization method becomes a cost minimization method, for example.
• D) none of the above.

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Definitions:

Conventional

Pertaining to common practices, methods, or standards accepted by a large group or society.

Agentic Professions

Occupations that are associated with getting things accomplished.

Communal

Pertaining to or shared by the members of a community; often refers to resources or responsibilities held in common.

Fraternal

Pertaining to brothers; often used to describe twins who are born from two separate eggs fertilized by two different sperm cells, and thus are not genetically identical.