The last step in the problem solving approach in the field of managerial economics is:
A) identification of the problem
B) determination of the data that is relevant to the problem
C) choosing the best possible solution
D) an evaluation of the alternative solutions
E) none of the above

Question

Quizplus · Accepted Answer

After identifying the problem, determining relevant data, and evaluating alternative solutions, the final step in the problem solving approach in managerial economics is to choose the best possible solution. Therefore, option C is the correct answer.

The Last Step in the Problem Solving Approach in the Field