Which of the Following Statements Is True of Problem Solving

question 63

Multiple Choice

Which of the following statements is true of problem solving?

• A) The golden rule of management is that a supervisor should always consider a problem as an opportunity.
• B) Decision making is unrelated to problem solving.
• C) Effective supervisors analyze problems, and solve them by eliminating their causes.
• D) Placing greater emphasis on problems can help a supervisor to identify opportunities.

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Definitions:

Marginal Cost

The amount needed to make one more unit of a certain product or service.

Total Economic Costs

The sum of all expenses a firm faces, including both explicit costs (direct payments) and implicit costs (opportunity costs).

Marginal Revenue

The gain in income from selling an additional unit of a product or service.

Marginal Cost

The cost implications of producing an additional unit of either a product or service.