Which of the Following Statements Is True Regarding the Rational

question 95

Multiple Choice

Which of the following statements is true regarding the rational decision-making model?

• A) The rational decision-making model takes into consideration the limited information-processing capability of individuals.
• B) Rational decision-making models involve constructing simplified models that extract the essential features from problems without capturing all their complexity.
• C) The rational decision-making model involves satisficing; seek solutions that are satisfactory and sufficient.
• D) The rational decision-making model assumes that an individual is able to identify all the relevant options in an unbiased manner.
• E) The rational decision-making process is an unconscious one created from distilled experience.

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Definitions:

Apparent Authority

A legal concept where a person appears to have the authority to act on behalf of another (such as an employer) and third parties reasonably believe in that authority.

Actual Authority

The express and implied powers given by a principal to an agent to enter into contracts or take action on the principal's behalf.

Good Faith

A sincere intention to deal fairly with others without any intention to defraud or seek an unfair advantage.

Duty Of Obedience

The legal or ethical obligation of individuals to act in accordance with the laws, rules, or regulations that govern their behavior or role, particularly in organizational or fiduciary contexts.