Suppose a Person Makes a Choice That Seems Inconsistent with the Cost-Benefit

question 122

Multiple Choice

Suppose a person makes a choice that seems inconsistent with the cost-benefit principle. Which of the following statements represents the most reasonable conclusion to draw?

• A) The person (explicitly or implicitly) over-estimated the benefits or under-estimated the costs or both.
• B) The cost-benefit principle is rarely true.
• C) The person does not grasp how decisions should be made.
• D) The person is simply irrational.

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