Use the Information Below to Answer the Following Questions

question 93

Multiple Choice

Use the information below to answer the following questions.
Fact 1.4.1 Costco
When Costco opened a gas bar just off Highway 401, the neighbourhood was swamped with cars as drivers lined up to get the discount of 10 cents a litre.
-Refer to Fact 1.4.1. The opportunity cost of a litre of gas is

• A)the time that you would have spent doing something other than lining up to buy a litre of gasoline.
• B)the amount of money that a consumer saves by buying gasoline at Costco.
• C)the 10 cent discount on a litre of gasoline.
• D)the pleasure that motorists receive from buying cheaper gasoline.
• E)zero if you drive an electric car.

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Definitions:

Leader Behaviors

Actions and conduct exhibited by a leader that influence their effectiveness in guiding and directing their team towards achieving objectives.

Empirical Research

Research based on observed and measured phenomena, aiming to obtain knowledge through empirical evidence.

Process Approach

A methodology in management and quality improvement that views activities as collections of interconnected processes, focusing on optimizing these processes to enhance performance.

Wide-Ranging

Covering a broad scope or variety of topics, areas, or subjects, often indicating an extensive or comprehensive reach.