A rational economic decision:

Question

Quizplus · Accepted Answer

A rational economic decision is one that weighs the costs and benefits of each available option and chooses the option that results in the greatest net benefit. However, the "largest economic payoff" is not always the same thing as the "greatest net benefit." Other factors, such as risk and time preferences, may impact the decision. Additionally, a rational economic decision does not necessarily prioritize efficiency over equity or fairness, so option D is not accurate. Therefore, the best answer is C, which acknowledges that a rational economic decision may or may not result in the largest economic payoff.

A Rational Economic Decision