Rational Choice Requires That Opportunity Cost Be

question 30

Multiple Choice

Rational choice requires that opportunity cost be

• A) ignored in making a decision.
• B) considered for individual choices, but not for societal choices.
• C) computed, but not actually used in making a decision.
• D) considered as part of making a decision.
• E) used as the sole decision criterion.

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Definitions:

Wheelchair Ramp

A slope installed in addition to or instead of stairs to allow wheelchair users and individuals with disabilities to access buildings.

Designated Groups

Specific segments of the population that are protected under affirmative action and equal opportunity policies, often including women, minorities, and individuals with disabilities.

Median Pay

Median pay refers to the middle value of wages in a range of pay rates, where half of the workers earn less and half earn more.