Which of the Following Would Be Good Advice to a Company

question 181

Multiple Choice

Which of the following would be good advice to a company that was setting up three work shifts for its workers?

• A) Reserve the most dangerous jobs for the night shift, since fewer industrial accidents occur at night.
• B) Provide very bright lights during the night shift.
• C) Rotate workers from the midnight shift to the evening shift to the day shift.
• D) Rotate workers randomly between shifts.

Understand the concept of marginal analysis and how it applies to decision-making processes.

Recognize the characteristics and implications of risk aversion in economic decisions.

Identify and explain the use of bounded rationality in decision-making.

Grasp the principles of behavioral economics and its relevance to irrational decision-making.

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Definitions:

Advantages

The beneficial aspects or positive effects that contribute to success or achieving a goal.

Problems

Situations that require solutions or understanding to overcome difficulties.

Decision Tree

A predictive model used in decision analysis to visually map out choices and their potential outcomes, risks, or rewards.

Leadership

The ability to inspire, influence, and guide others toward achieving common goals and visions.