When economists say an individual has made a rational choice, they mean the individual has
A) made the choice by weighing their own subjective costs and benefits.
B) made a "good" decision, one that reasonable outside observers would have also made.
C) neglected to consider the unintended consequences arising from their decision.
D) ignored their own personal interests and made the choice that is best for society.

Question

Quizplus · Accepted Answer

Economists define a rational choice as one where an individual weighs their own subjective costs and benefits, making decisions that maximize their personal utility.

When Economists Say an Individual Has Made a Rational Choice