Question
upstudy study bank question image url

An optimal decision is one that chooses
a. among various possible goals and offends no one, so that all are equally happy.
b. among possible goals in such a way that spends as little money as possible.
c. the lowest cost method of meeting goals, without regard to quality or any other feature.
d. the most desirable alternative among the possibilities permitted by the resources available.
e. among equally important goals, and thereby avoids the “indispensable necessity” syndrome.

Ask by Gonzalez Little. in the United States
Mar 21,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

An optimal decision is the most desirable choice among the available options, considering the resources you have.

Solution

To determine the optimal decision from the provided options, let’s analyze each choice:
a. This option suggests that an optimal decision is one that tries to make everyone equally happy, which is often impractical and may lead to indecision or compromise that doesn’t truly satisfy anyone.
b. This option focuses solely on minimizing costs, which can lead to suboptimal outcomes if quality or effectiveness is sacrificed.
c. This option emphasizes the lowest cost method without considering quality or other important factors, which can result in poor decisions that do not meet the actual needs.
d. This option states that an optimal decision is the most desirable alternative among the possibilities allowed by the available resources. This aligns with the concept of optimization, where the best choice is made considering constraints and goals.
e. This option suggests avoiding the “indispensable necessity” syndrome among equally important goals, which may not necessarily lead to an optimal decision.
Based on this analysis, the best choice for an optimal decision is:
d. the most desirable alternative among the possibilities permitted by the resources available.
This option captures the essence of making a decision that balances desirability with the constraints of available resources.

Answered by UpStudy AI and reviewed by a Professional Tutor

error msg
Explain
Simplify this solution

The Deep Dive

Making the optimal decision, particularly in a resource-constrained environment, requires a delicate balance between various alternatives. It’s like being a tightrope walker, carefully navigating the fine line between desires and feasibility to land on the most desirable option that leads to success!
In real-world scenarios, optimal decisions can be seen in business strategies, where leaders assess multiple projects and invest in the one that not only meets their goals effectively but also maximizes return on investment. It’s all about making smart choices that align with both resources available and the overarching mission!

Related Questions

\begin{tabular}{l|l}\multicolumn{1}{l}{ A variable that can't be accounted for is } & The author backs up the statement that the economy \\ can be unpredictable by pointing out that \\ a natural disaster such as a hurricane. As the & result of a hurricane, demand is guaranteed \\ to increase in a way that could not have been & (A) banking panics occur when confidence in the financial \\ system is strong. \\ predicted because the flow of goods into & (B) natural disasters can affect the demand for goods and \\ disrupt production. \\ impacted areas is blocked. If crops or power \\ facilities like oil refineries are damaged, then & C. customers are more willing to buy something when \\ interest rates are low. \\ demand is also affected. & (D) inflation occurs when prices for goods and services \\ decrease too quickly. \end{tabular}

Latest Economics Questions

\begin{tabular}{l|l}\multicolumn{1}{l}{ A variable that can't be accounted for is } & The author backs up the statement that the economy \\ can be unpredictable by pointing out that \\ a natural disaster such as a hurricane. As the & result of a hurricane, demand is guaranteed \\ to increase in a way that could not have been & (A) banking panics occur when confidence in the financial \\ system is strong. \\ predicted because the flow of goods into & (B) natural disasters can affect the demand for goods and \\ disrupt production. \\ impacted areas is blocked. If crops or power \\ facilities like oil refineries are damaged, then & C. customers are more willing to buy something when \\ interest rates are low. \\ demand is also affected. & (D) inflation occurs when prices for goods and services \\ decrease too quickly. \end{tabular}
Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy