Organizational Behavior
Organizational Behavior
OER 2019 Edition
ISBN: 9781947172715
Author: OpenStax
Publisher: OpenStax College
Textbook Question
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Chapter 6.5, Problem 1CC

Explain what satisficing is and when it may be a good strategy.

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General Accounting question
Sam's profit is maximized when he produces   shirts. When he does this, the marginal cost of the last shirt he produces is   , which is    than the price Sam receives for each shirt he sells. The marginal cost of producing an additional shirt (that is, one more shirt than would maximize his profit) is   , which is    than the price Sam receives for each shirt he sells. Therefore, Sam's profit-maximizing quantity corresponds to the intersection of the    curves. Because Sam is a price taker, this last condition can also be written as    .
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Chapter 6 Solutions

Organizational Behavior

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