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.

Question

Quizplus · Accepted Answer

A firm that practices satisficing chooses an acceptable or satisfactory alternative, even though it may not be the optimal one. The focus is on meeting a certain standard or criteria instead of maximizing performance or profit.

By Definition, a Firm That Practices Satisficing