By definition, a firm that practices satisficing
a. maximizes its sales, not its profits.
b. makes acceptable decisions, though not necessarily optimal ones.
c. satisfies government guidelines instead of consumer demands.
d. minimizes the cost of gathering enough information to make an optimal decision.
b
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A corporation is the type of business that has ________ government rules and regulations affecting it
A) the fewest B) no C) only federal D) the most
An income transfer contains less fiscal stimulus than an increase in government spending of the same size.
Answer the following statement true (T) or false (F)
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
Explain the economic fallacy in the statement: “If the Jones family would just cut up their credit cards and live within their means, they’d be better off. And if consumers in this nation cut up their credit cards and lived within their means, the
nation would be better off.” Please provide the best answer for the statement.