Economists Consider Which of the Following Costs to Be Irrelevant

question 54

Multiple Choice

Economists consider which of the following costs to be irrelevant to a short-run business decision?

• A)opportunity cost
• B)out-of-pocket cost
• C)historical cost
• D)replacement cost

Appreciate the value of non-verbal communication and gestures in maintaining customer relationships.

Learn best practices in handling customer complaints and issues with products.

Understand the role of a salesperson in advising clients and providing value through problem-solving.

Acknowledge the importance of follow-up and service after the sale.

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Definitions:

Coefficient Of Relatedness

A measure indicating the probability of sharing genes between two individuals due to common ancestry.

Somatosensory Cortex

An area of the brain in the parietal lobe responsible for processing sensory information from various parts of the body, including touch, temperature, and pain.

Bipedal Nature

Referring to the characteristic of using two legs for walking, standing, and running, typical of humans and some other species.

Innate Behaviors

Instinctive actions and reactions that organisms are born with, not learned through experience, such as reflexes or fixed-action patterns.