Which of the Following Is an Assumption Made by the Classical

question 28

Multiple Choice

Which of the following is an assumption made by the classical model?

• A) There is no optimum decision.
• B) There is more than one alternative.
• C) There is only one alternative.
• D) Managers have access to all the information they need.
• E) Managers are not capable of making the right decisions.

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Definitions:

Formal Statement

A formal statement typically refers to an official, explicitly articulated declaration of facts, intentions, or principles.

Empirical Measure

A method or metric that is based on observation or experience rather than theory or pure logic.

Causal Statement

A declaration that indicates a cause-and-effect relationship between two events or variables.

Positive Economics

A branch of economics that focuses on describing and explaining the economic world as it is, not as it should be.