When you are considering a decision but lack full information, you should:
A)obtain more information only if the benefit of the information is greater than the opportunity cost of getting it.
B)always seek out the most information you can before making a decision.
C)not make the decision without complete information.
D)obtain more information if there is any benefit at all to getting the information.

Question

Quizplus · Accepted Answer

The correct approach is to weigh the benefits of obtaining additional information against the opportunity costs involved. This ensures that the decision-making process is efficient and resources are not wasted on gathering information that may not significantly impact the decision outcome.

When You Are Considering a Decision but Lack Full Information