A Rational Decision Maker Always Chooses the Option for Which

question 32

Multiple Choice

A rational decision maker always chooses the option for which marginal benefit is:

• A) less than marginal cost.
• B) equal to marginal cost.
• C) unrelated to marginal cost.
• D) more than marginal cost.

---

Definitions:

Selection Criteria

The specific qualifications, competencies, and experience that are considered necessary for successfully performing the duties of a particular job or role.

Communication Systems

Tools, processes, and technologies used to facilitate the exchange of information among people and devices.

Geographical Location

The specific physical place where a company is situated, which can significantly impact its operations and market reach.

Just-In-Time (JIT)

An inventory management strategy where materials and products are produced or acquired only as needed for immediate use, reducing waste and inventory costs.