To Make a Rational Choice,a Person

question 242

Multiple Choice

To make a rational choice,a person

• A) compares the extra benefits of one more unit to the extra costs of one more unit.
• B) adds the total benefits and the total costs and then compares the two totals.
• C) adds the total benefits to determine if the total is large enough.
• D) adds the total costs to determine if the total is small enough.
• E) takes account of all benefits and all opportunity costs, including both marginal costs and sunk costs.

---

Definitions:

Factorial Designs

Experimental designs used in research that involve multiple factors (independent variables) and their influence on the dependent variable, allowing for the study of interactions among factors.

Experimental Studies

Research methods that involve the manipulation of variables to determine cause-and-effect relationships.

Variables

Elements or factors that can change and potentially affect the outcome of a study or experiment.

Hypothesis

A suggested interpretation put forward with scarce evidence, serving as an initial step for more in-depth exploration.