When Making a Rational Decision Which Requires the Consideration of Costs

question 71

True/False

When making a rational decision which requires the consideration of costs and benefits involved, the opportunity cost of a decision is always taken into consideration.

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Definitions:

Thurgood Marshall

The first African-American justice on the U.S. Supreme Court, serving from 1967 to 1991, known for his legal work in dismantling racial segregation.

Dixiecrats

A political party in the United States, officially known as the States' Rights Democratic Party, that split from the Democratic Party in 1948, advocating for racial segregation and states' rights.

States' Rights Democrats

A faction within the Democratic Party that emerged in the mid-20th century, advocating for states' rights to legislate and govern without federal intervention, particularly on issues of racial segregation.

J.Strom Thurmond

A long-serving U.S. senator known for his strong support of racial segregation and opposition to civil rights legislation.