Rational Ignorance Is the Decision NOT to

question 122

Multiple Choice

Rational ignorance is the decision NOT to

• A) vote in elections.
• B) acquire information because the marginal benefit of doing so exceeds the marginal cost.
• C) acquire information because the marginal cost of doing so exceeds the expected marginal benefit.
• D) acquire information because the marginal cost of doing so equals the expected marginal benefit.
• E) follow the principle of minimum differentiation.

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Definitions:

Mature Organisation

An organization that has developed over time to a stage where it enjoys stable growth, well-established systems, and processes, and a clear sense of identity.

Systems Thinking

An analytical approach that focuses on understanding how components of a system interact with each other within a complete entity or larger system.

Contingency Thinking

The mindset of preparing for and adapting to unforeseen or variable circumstances in decision-making.

Contemporary Organisations

Modern entities or institutions structured to achieve specific goals, characterized by their adaptive strategies in dynamic environments.