What is NOT true about rational choice?
A) It is the same for all individuals.
B) It can result in different decisions for different individuals.
C) It is a choice that uses the available resources to best achieve the objective of the person making the choice.
D) It might turn out not to have been the best choice after the event.
E) It involves comparing costs and benefits
Correct Answer:
Verified
Q31: Your lecturer changes the penalty for cheating
Q32: Whether a company produces fishing rods mostly
Q33: You have chosen to take a trip
Q34: An opportunity cost is
A) the benefits of
Q35: The question 'should economics majors or sociology
Q37: Australia has a universal health care system
Q38: Which of the following is a microeconomic
Q39: Rational choice:
A) is always efficient.
B) is a
Q40: The cost of a one-unit increase in
Q41: Decision making on the margin involves
A) eliminating
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents