Which of the following is NOT a step involved in optimization using total value?
A) Calculating the total net benefit of each alternative
B) Choosing the alternative with the highest net benefit
C) Converting all costs and benefits into a common value of measurement
D) Calculating the marginal consequences of moving between alternatives

Question

Quizplus · Accepted Answer

Calculating the marginal consequences of moving between alternatives is not a step involved in optimization using total value. The other three steps - calculating total net benefit, converting costs and benefits into a common value, and choosing the alternative with the highest net benefit - are key steps in the process.

Which of the Following Is NOT a Step Involved in Optimization