Implicit Costs Are Best Thought of As

question 165

Multiple Choice

Implicit costs are best thought of as:

• A) variable costs.
• B) marginal costs.
• C) accounting costs.
• D) opportunity costs.
• E) sunk costs.

Recognize the psychological processes of change and key theorists associated with these processes.

Identify and describe different models and theories of change (Havelock, Rogers, Lewin, Transtheoretical approach).

Distinguish between the steps involved in various change processes and models.

Recognize the importance of internal and external forces in organizational change.

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Definitions:

Objective Function

A mathematical expression in linear programming that maximizes or minimizes some quantity (often profit or cost, but any goal may be used).

Largest Possible Amount

The maximum quantity or extent something can reach or contain.

Linear Programming Problems

Mathematical modeling techniques used to achieve the best outcome, such as maximum profit or lowest cost, within a defined set of constraints.

Transportation Method

A solution technique used in operations research and logistics to determine the most efficient way of allocating resources to move goods or services from multiple sources to multiple destinations.