A Rational Decision Maker Takes an Action If and Only

question 9

Multiple Choice

A rational decision maker takes an action if and only if

• A) the marginal benefit of the action exceeds the marginal cost of the action.
• B) the marginal cost of the action exceeds the marginal benefit of the action.
• C) the marginal cost of the action is zero.
• D) the opportunity cost of the action is zero.

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Definitions:

AIDS

Acquired Immunodeficiency Syndrome, a chronic, potentially life-threatening condition caused by the human immunodeficiency virus (HIV).

Saliva

A clear liquid secreted by the salivary glands in the mouth, important for digestion and maintaining oral hygiene.

Centration

A cognitive limitation in early childhood, characterized by focusing on one aspect of a situation while neglecting others.

Piaget's Concept

A theory in psychology that outlines how children's intellectual development progresses through distinct stages.