Which of the Following Statements About Rational Choices Is the Most

question 32

Multiple Choice

Which of the following statements about rational choices is the most accurate?

• A) They can only be made by comparing opportunity cost with the marginal cost.
• B) They are made based on expectations of the additional benefits and additional costs involved.
• C) They are based on a comparison of total benefits and total costs.
• D) They measure benefits based on the past.

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Definitions:

Regulatory Bodies

Organizations or agencies created to enforce compliance with laws, regulations, and standards in various industries.

HR Supply Analysis

An evaluation of the current workforce in an organization to determine if the number of employees, as well as their skills, are sufficient to meet current and future needs.

Skills Inventories

Comprehensive listings or databases of the skills, qualifications, and expertise available within an organization, used for planning, recruitment, and development purposes.

Hires To Retires

This term encapsulates the entire employment lifecycle within an organization, from the moment an individual is hired through to their retirement.