Optimal Decisions Are Made on the Basis of

question 156

Multiple Choice

Optimal decisions are made on the basis of

• A)rate of growth in total profit.
• B)average cost and average revenue figures.
• C)impact on market share.
• D)marginal cost and marginal revenue figures.

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Definitions:

Operating Objectives

Specific, short-term targets set by a business or organization to ensure effective day-to-day operations and progress towards its broader goals.

Continuous Improvement

An ongoing effort to enhance products, services, or processes through incremental improvements or breakthrough achievements.

SWOT Analysis

An examination of organizational strengths and weaknesses and environmental opportunities and threats.

Sustainability

Acting in ways that support a high quality of life for present and future generations.