Which of the Following Is Not One of the Steps

question 6

Multiple Choice

Which of the following is not one of the steps in managerial decision making?

• A) Predicting the consequences of a decision.
• B) Exploring the alternatives to the decision.
• C) Defining the problem and the objectives of the decision.
• D) Negotiating a consensus to implement the decision.
• E) Performing sensitivity analysis.

---

Definitions:

User Cost

The opportunity cost of using a good, service, or resource, including the cost of foregoing the next best alternative use.

Extraction Cost Curve

Illustrates the relationship between the quantity of a resource extracted and the cost of extraction, typically showing increasing costs as more of the resource is extracted.

Marginal Extraction Costs

The additional costs incurred for extracting one more unit of a resource, which may increase as the resource becomes scarcer.

Resource

Assets, materials, or substances that provide economic value or benefit to individuals or businesses.