The Final Step in the Decision-Making Process Requires That Managers

question 42

Multiple Choice

The final step in the decision-making process requires that managers _____.

• A) evaluate the results of the chosen alternative
• B) select the best alternative
• C) implement the chosen alternative
• D) identify the available alternatives
• E) define the decision situation

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Definitions:

Past Costs

Refers to expenses that have already occurred and cannot be recovered.

Marginal Costs

The supplementary cost that comes with producing an extra unit of a good or service.

Mass Affordability

The widespread ability of the average consumer to purchase goods and services, often due to lower prices or increased income levels.