Which of the following statements is true?
A) Rational economic agents maximize more than just monetary income.
B) An individual does not require information to make optimal decisions.
C) The principle of optimization is only accurate when it comes to making monetary decisions.
D) It is not necessary to consider the risks of alternatives while making an optimal decision.

Question

Quizplus · Accepted Answer

Rational economic agents consider various factors, such as time, effort, and opportunity costs, while making decisions, not just monetary income. Option B is incorrect as information is essential for optimal decision-making. Option C is incorrect as optimal decision-making applies to all types of decisions, not just monetary. Option D is incorrect as considering the risk of alternatives is an integral part of optimal decision-making.

Which of the Following Statements Is True