The Decision Not to Acquire Information Because the Cost of Acquiring

question 139

Multiple Choice

The decision not to acquire information because the cost of acquiring the information exceeds the expected benefit from the information is known as

• A) rational ignorance.
• B) the principle of minimum differentiation.
• C) public choice theory.
• D) inefficient provision.

---

Definitions:

Highly Structured Environment

A setting designed with strict routines and clear, organized systems to provide stability and order.

Intellectual Development

The growth and change in a person’s ability to think, reason, and understand over time.

Socioemotional Processes

The development and changes in emotions, relationships, and social skills throughout a person's life.

Biological Processes

Fundamental processes vital to living organisms, such as growth, reproduction, and metabolism.