Asked by
Amanda Stahl
on Dec 09, 2024Verified
When two projects both require the total use of the same limited economic resource, the projects are generally considered to be:
A) Independent.
B) Marginally profitable.
C) Mutually exclusive.
D) Acceptable.
E) Internally profitable.
Limited Economic Resource
A scarcity or limitation of resources that possess utility or value, which restricts their availability for use in production, consumption, or investment.
Mutually Exclusive
Situations or events that cannot occur at the same time, often used in decision-making scenarios where the choice of one option precludes the selection of another.
Independent
Characterized by freedom from outside control or influence; self-governing.
- Identify the distinctions between projects that are mutually exclusive and those which are independent.
Verified Answer
KL
Learning Objectives
- Identify the distinctions between projects that are mutually exclusive and those which are independent.