It is rational to be ignorant when:
A) the benefits of the information outweigh the costs of acquiring the information.
B) the costs of becoming informed are greater than the benefits of being informed.
C) you have limited mental capacity.
D) dollars or profits do not matter.

Question

Quizplus · Accepted Answer

Being rational means making logical and reasonable decisions based on the information available. If the costs of becoming informed are greater than the benefits of being informed, it makes sense to remain ignorant. For example, spending a significant amount of money on education or training for a career with limited job opportunities may not be a rational decision. On the other hand, if the benefits outweigh the costs, such as investing in education for a career with high earning potential, it would be rational to become informed.

It Is Rational to Be Ignorant When