Intuition Relies on Programmed Decision Routines That Speed Up Our

question 60

Multiple Choice

Intuition relies on programmed decision routines that speed up our response to pattern matches or mismatches.These programmed decision routines are referred to as:

• A) action scripts.
• B) insights.
• C) rational formulae.
• D) solution-focused problems.
• E) implicit favorites.

---

Definitions:

Bureaucratic

Pertaining to a system of administration characterized by strict policies, procedures, and hierarchy.

Short-run Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the quantity of output produced, calculated when some factors of production are fixed.

Factory

A manufacturing facility where goods are produced or assembled.

Efficient Scale

The level of production at which a company can produce its products at the lowest average cost per unit, maximizing efficiency.