Making "how much" decisions involves
A) calculating the total costs of the activity and determining if you can afford to incur that expenditure.
B) calculating the total benefits of the activity and determining if you are satisfied with that amount.
C) determining the additional benefits and the additional costs of that activity.
D) calculating the average benefit and the average cost of an activity to determine if it is worthwhile undertaking that activity.
C
You might also like to view...
Which of the following is true? a. As long as human wants exceed available resources, scarcity will exist
b. Scarcity ultimately leads to competition for the available goods and services. c. Scarcity affects everyone to the same degree. d. Both a. and b. are true.
Economies of scale can be caused by all of the following except
a. price discounts for large scale purchases b. labor specialization c. use of more productive equipment d. increases in the firm's average total cost e. more cost-efficient methods of marketing