Suppose That a Person Makes a Choice That Seems Inconsistent

question 91

Multiple Choice

Suppose that a person makes a choice that seems inconsistent with the cost-benefit principle.Which of the following statements represents the most reasonable conclusion to draw?

• A) The person (explicitly or implicitly)over-estimated the benefits or under-estimated the costs or both.
• B) The abstraction of the cost-benefit principle is so great as to be unable to explain behaviour.
• C) The person does not grasp how decisions should be made.
• D) The person is simply irrational.
• E) Because people do not explicitly calculate benefits and costs,it is not surprising that choices are made which violate the cost-benefit principle.

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