When Economists Assume People Make Rational Decisions, It Means That

question 310

Multiple Choice

When economists assume people make rational decisions, it means that

• A) people never make mistakes.
• B) a rational person can never appear to make irrational decisions.
• C) people are always selfish.
• D) a rational person will respond to the benefits and costs associated with incentives.

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Definitions:

Medical Procedures

Refers to the techniques and actions performed by healthcare professionals to diagnose, treat, or prevent disease.

Financial Benefit

An advantage or profit gained from investments, employment, or other financial activities.

Pursue

To follow or engage in an activity or goal with determination and effort.

Candidate

A candidate is an individual who is being considered or has applied for a position, role, or opportunity, such as a job, scholarship, or elective office.