A Rational Choice Is One That

question 35

Multiple Choice

A rational choice is one that:

• A) allows individuals to reach their goals.
• B) involves the use of strategic decision making in an effort to reach a goal.
• C) does not involve self-interested behavior.
• D) is usually optimized when decision makers are poorly informed about alternatives.

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Definitions:

Satisfaction

The degree of contentment or pleasure experienced from the fulfillment of a desire or the consumption of goods and services.

Marginal Utility

The increased value or pleasure an individual obtains from using another unit of a certain service or good.

Total Satisfaction

A measure of the overall happiness or contentment derived from consuming a combination of goods and services.

Consumer's

Related to or involving the actions and decisions of individuals who purchase goods and services for personal use.