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Q: How does irrelevant decision affect the research process?
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Describe how subjectivity and other factors affect a person's calculation of cost and benefit Give an example of a cost-benefit analysis you have performed?

Subjectivity can influence a person's calculation of cost and benefit by impacting how they perceive the importance of various factors. For example, personal preferences, emotions, and biases can lead individuals to assign different weights to costs and benefits in a decision-making process. In a cost-benefit analysis I performed, I had to consider both quantitative data such as financial costs and benefits, as well as qualitative factors like environmental impact and social implications. By acknowledging and addressing subjectivity and other factors, I was able to make a more comprehensive and informed decision.


How the elasticity of demand affect managerial decisions?

Elasticity of demand affects managerial decisions because the demand of a product changes with the wrong business decision. Managers must be careful about what they choose to do with their products.


How might a foreign policy decision such as the placement of an economic sanction against another country affect U.S. citizens?

People in the US could be prevented from buying goods from a country that the US government has placed sanctions on.


What are the limitations of capital budgeting process?

Capital budgeting limitations are as follows:-It has long term implementations which can't be used in short term & it is used as operations of the business. A wrong decision in the early stages can affect the long term survival of the company. The operating cost gets increased when the investment of fixed assets is more than required.Inadequate investment makes it difficult for the company to increase its budget & the capital.Capital budgeting involves large number of funds so the decision has to be taken carefully.Decisions in capital budgeting are not modifiable as it is hard to locate the market for capital goods.The estimation can be in respect of cash outflow and the revenues or saving & costs attached which are with projects.


What do you mean by managerial economics and what is science?

Managerial economics applies economic theory and methods to business and administrative decision making. Managerial economics prescribes rules for improving managerial decisions. Managerial economics also helps managers recognize how economic forces affect organizations and describes the economic consequences of managerial behavior. It links traditional economics with the decision sciences to develop vital tools for managerial decision making. This process is illustrated in Figure 1.1. Managerial economics identifies ways to efficiently achieve goals. For example, suppose a small business seeks rapid growth to reach a size that permits efficient use of national media advertising. Managerial economics can be used to identify pricing and production strategies to help meet this short-run objective quickly and effectively

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Seeds are not metal, therefore they cannot be magnetized, which makes this question is irrelevant.