Which of the Following Assumptions Is NOT Associated with Strategies

question 120

Multiple Choice

Which of the following assumptions is NOT associated with strategies for goods-producing location decisions?

• A)Most major costs can be identified explicitly for each site.
• B)Focus on identifiable costs.
• C)High customer-contact issues are critical.
• D)Intangible costs can be evaluated.
• E)Location is a major determinant of cost.

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Definitions:

Framing Effects

Cognitive biases where people's decisions are influenced by the way information is presented, rather than just the information itself.

Anchoring

Anchoring is a psychological phenomenon wherein an individual relies too heavily on an initial piece of information, or 'anchor,' to make subsequent decisions.

Heuristics

Simple, efficient rules, either hard-coded by evolutionary processes or learned, which help in making decisions, forming judgments, or solving problems.

Error-Free Decisions

Decisions made without mistakes, achieved through careful analysis, planning, and consideration of all relevant information.