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Rajiv was asked to prepare a report on the estimated costs of introducing a new product into the market. He estimated the costs by slightly increasing the costs the company had incurred while introducing a product into the market the previous year. This might not be accurate, because a number of other factors should also have been considered while calculating the estimated costs for the current year. This type of decision-making error is known as _____.
Orbital Decompression
A surgical procedure aimed at relieving pressure within the eye socket, often used to treat conditions like Graves' disease.
Insulin Resistance
A condition in which cells in the body respond poorly to insulin, leading to elevated blood sugar levels.
Type 2 Diabetes
A chronic condition that affects the way the body processes blood sugar (glucose), characterized by insulin resistance or deficiency.
Biguanides
A class of oral medications primarily used to treat type 2 diabetes by reducing glucose production in the liver.
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