Common denominator to estimate precise tradeoffs
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In a tradeoff between two decision criteria such as ease of commuting and attractiveness of job, can you use money as a common denominator to estimate precise tradeoffs? State your reasons. Illustrate using the following tradeoff matrix. What sort of salary differences would it take for commute time to trump job attractiveness?
Decision Criteria Monetary Issues Other Issues
Commute Time _____ ______
Job Attractiveness _____ ______.
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Solution Summary
An example of using money as a common denominator to estimate tradeoffs when making a decision.
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See the attached file.
While I cannot complete the actual table for you, I can assist you with coming up with some examples and factors to include within the table for your assignment. Also, illustrating how it might look in a table so you can complete the remainder on your own.
In the scenario given regarding whether money can be used as a common denominator to estimate precise tradeoff, yes, in my opinion, it can. This, of course, is dependent on a number of factors included gas prices and the number of miles for the commute as well as what the factors of the job are attractive to certain individuals over others.
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