Constrained Optimization Occurs When

question 20

Multiple Choice

Constrained optimization occurs when:

• A)an individual makes choices that are influenced by his/her parents and family.
• B)an individual makes choices that best suit his/her preferences.
• C)firms choose the best products to meet their client's needs.
• D)an individual is forced to choose between competing alternatives subject to some limitation such as budgetary considerations.

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Definitions:

APA Ethics Guidelines

A set of principles designed by the American Psychological Association to guide conduct in psychology, ensuring integrity, professional competence, and respect.

Altruism

The principle or practice of selfless concern for the well-being of others, often at a cost to oneself.

Validity

The extent to which a concept, conclusion or measurement is well-founded and likely corresponds accurately to the real world.

Debrief

The process of providing a detailed and explanatory feedback or information following a task, experiment, or event.