Which of the Following Statements Accurately Describe Quantitative Management Approaches

question 9

Multiple Choice

Which of the following statements accurately describe quantitative management approaches?

• A) Quantitative management approaches developed about the same time as human resource approaches to management.
• B) Quantitative approaches are based on the assumption that mathematical techniques can be used to improve managerial problem solving.
• C) Quantitative approaches are increasingly driven by computer technology.
• D) All of the above statements accurately describe quantitative management approaches.
• E) None of the above statements accurately describe quantitative management approaches.

---

Definitions:

Socially Optimal Price

The pricing point where the societal benefits of consuming a good or service equal the societal costs of providing it, leading to an efficient allocation of resources.

Deadweight Loss

A loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unattainable.

Graphically Depict

To represent data or information visually using charts, graphs, or other pictorial forms.

Deadweight Loss

The loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved or is distorted by external intervention.