A choice made by comparing all relevant alternatives systematically and incrementally is
A) an opportunity cost.
B) a choice on the margin.
C) a benefit.
D) a sunk cost.
E) a choice made in the social interest.

Question

Quizplus · Accepted Answer

A choice made by comparing all relevant alternatives systematically and incrementally is a choice on the margin. It involves examining the costs and benefits of each alternative and selecting the one that provides the greatest marginal benefit compared to its marginal cost. This approach allows individuals to make rational decisions that maximize their overall well-being.

A Choice Made by Comparing All Relevant Alternatives Systematically and Incrementally