A Rational Decision Maker Takes an Action Only If the

question 90

Multiple Choice

A rational decision maker takes an action only if the

• A)marginal benefit is less than the marginal cost.
• B)marginal benefit is greater than the marginal cost.
• C)average benefit is greater than the average cost.
• D)marginal benefit is greater than both the average cost and the marginal cost.

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Definitions:

Own Interests

Personal advantages or benefits that drive individual actions, choices, or motivations.

Ethical Development

The process of learning and applying concepts of right and wrong behavior, influenced by personal, societal, and situational factors.

Personal Principles

Core beliefs or values that guide an individual's actions and decision-making process.