________ uses the concept of marginal analysis to determine the optimum choice.
A) Empiricism
B) Optimization using total value
C) Before and after comparisons
D) Optimization using marginal analysis

Question

Quizplus · Accepted Answer

Only optimization using marginal analysis uses the concept of marginal analysis to determine the optimum choice. Empiricism is a method of collecting data and information through observation and experimentation, and not specifically related to making choices. Before and after comparisons may be used to evaluate the effectiveness of a decision, but not necessarily to determine the optimum choice. Optimization using total value does not specifically use marginal analysis.

________ Uses the Concept of Marginal Analysis to Determine the Optimum