According to the Text, Which Statement Best Defines Rationalization

question 79

Multiple Choice

According to the text, which statement best defines rationalization?

• A) the logical attempt to see other people's viewpoints
• B) calculating the most efficient means to an end despite potential negative consequences
• C) the effort to understand cultural diversity
• D) a calculated response to an individual's fatalism

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Definitions:

Short Run

An interval in economic studies where a minimum of one production element remains constant and is unalterable.

Variable Costs

Expenses that change in proportion to the activity of a business.

Short Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be altered.

Profit Maximization

The procedure through which a business identifies the pricing and production volume that yields the highest earnings.