To Determine the Quantity of Any Activity That Will Maximize

question 123

Multiple Choice

To determine the quantity of any activity that will maximize net benefit, economists employ the ________ rule.

• A) average decision
• B) total decision
• C) net decision
• D) marginal decision

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Definitions:

Centre-of-Gravity Method

A technique used in location planning that minimizes transportation costs by considering geography and volumes to find an optimal location.

Distribution Centre Locations

Sites selected for warehouses or facilities where goods are received, stored, and then distributed to retailers or customers.

Service Locations

Sites selected for providing services to customers, often determined based on accessibility and demand.

Goods-Producing Location Decisions

The process of choosing optimal locations for manufacturing or production facilities based on factors like cost, logistics, and supply chain considerations.