A perfectly rational decision maker would __________.
A) have changing preferences
B) not consider profit maximization as an objective
C) offer inconsistent decisions
D) be objective and logical
E) have to overcome time and cost constraints

Question

Quizplus · Accepted Answer

A perfectly rational decision maker would be objective and logical in making decisions based on consistent preferences and available information. This means that the decision maker would not be influenced by emotions, biases, or external pressures, and would always choose the option that maximizes their expected utility. Time and cost constraints would be taken into account in the decision-making process, but they would not compromise the rationality of the decision maker. Therefore, options A, B, C, and E are not consistent with the characteristics of a perfectly rational decision maker.

A Perfectly Rational Decision Maker Would __________