If payoffs are costs rather than profits, then
A) using any quantitative decision making tools is not possible at all.
B) it is necessary to find more financial data of the company to determine the profits.
C) the tools have to be adjusted so that a profit maximization method becomes a cost minimization method, for example.
D) none of the above.

Question

Quizplus · Accepted Answer

When payoffs are costs, decision-making tools need to be adjusted to focus on minimizing costs rather than maximizing profits.

If Payoffs Are Costs Rather Than Profits, Then