Once Viable Alternatives Have Been Identified by a Decision Maker,which $\textbf{ not }$

question 62

Multiple Choice

Once viable alternatives have been identified by a decision maker,which of the following is $\textbf{ not }$ a step that should be followed?

• A)Develop a list of relevant revenues and costs.
• B)Identify any qualitative factors that may affect the decision.
• C)Choose the alternative that produces the greatest benefit or the lowest cost.
• D)All of the listed steps should be followed.

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Definitions:

User Cost

User cost comprises the costs associated with the use of a product or service, including wear and tear, maintenance, and the opportunity cost of forgone alternatives.

Extract

To remove or obtain a substance from a source through a process.

Resource

An asset or input used to produce goods and services, such as labor, capital, land, and knowledge.

Nonrenewable Resource

A natural resource that cannot be readily replaced by natural means at a quick enough pace to keep up with consumption.