In Practice,the Cost Minimization Strategy Can Be More Expensive Than

question 104

Multiple Choice

In practice,the cost minimization strategy can be more expensive than the opportunity maximization strategy.
Which of the following is a way in which the cost minimization strategy is less expensive than the opportunity minimization strategy?

• A)the loss of unexpected opportunities
• B)the cost of extensive monitoring mechanisms
• C)the costs of writing detailed contracts
• D)the prevention of opportunistic behavior by the partner(s)

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Definitions:

Serial Position Effect

The finding that, for information learned in a sequence, recall is better for the beginning and ending items than for the middle items in the sequence.

Phi Phenomenon

The optical illusion of perceiving continuous motion between separate objects viewed rapidly in succession.

Implicit Memory Effect

A phenomenon where previous experiences aid the performance of a task without conscious awareness of these previous experiences.

Sequestering Effect

The process of removing or isolating a chemical or substance from the environment, often used in carbon capture to reduce atmospheric CO2.