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To Decide the Cost of a Product,managers Use Information About

question 5

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To decide the cost of a product,managers use information about past and projected product costing and customer preferences.


Definitions:

RAPID Model

A decision-making framework that clarifies roles within an organization regarding who should Recommend, Agree, Perform, Input, and Decide for effective execution of actions.

Arrange

To organize or make plans for something.

Decide

The act of making a choice or coming to a conclusion after consideration of options or evidence.

Nonprogrammed Decisions

Decisions made in response to situations that are unique, are poorly defined, and largely unstructured.

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