Decision-Making Conditions Helen Is the Manager for TrucksRUs, a Medium-Sized Hauling Service

question 58

Multiple Choice

Decision-making Conditions
Helen is the manager for TrucksRUs, a medium-sized hauling service located in Victoria.She is responsible for scheduling trucks, initiating new routes and staffing both existing and new routes.She is currently struggling with existing information about the profitability of existing and future truck routes.
-Refer to Decision-making Conditions (Scenario) .Helen knows that she is operating in an uncertain environment.She is basically a pessimist and we would, therefore, expect her to follow a ________ strategy.

• A)certainty
• B)risk
• C)minimax
• D)maximax
• E)maximin

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Definitions:

Income

The financial gain received by an individual or entity, typically through wages, profits, rents, or investments.

Government Revenues

The total money received by the government from various sources, including taxes, fees, and other charges.

Lump-Sum Tax

A tax that is a fixed amount, not dependent on the taxpayer's income level or economic transactions.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is achievable but is not achieved.