When Will a Rational Decision Maker Take Action

question 82

Multiple Choice

When will a rational decision maker take action?  

• A) when marginal costs are greater than marginal benefits 
• B) when marginal costs are equal to or greater than marginal benefits 
• C) when marginal benefits are equal to or greater than marginal costs 
• D) when marginal benefits are at a maximum

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Definitions:

Cyclical

Describing fluctuations in economic activity, markets, or prices that occur in regular or predictable cycles, often related to changes in business or economic conditions.

Network

A connected system of individuals, devices, or organizations designed to distribute information or resources efficiently.

Responsive Supply Chain

A supply chain designed to swiftly adapt to market changes, customer demands, or supply variations, enhancing competitiveness and customer satisfaction.

Markdown

A reduction from the original or retail price of merchandise to increase its saleability.