Which of the following statements about the rule of rational choice is the most accurate?
A) It requires the availability of complete information before decisions can be made.
B) It includes marginal benefits but not marginal costs.
C) It involves marginal thinking.
D) It can only be applied in business decisions.

Question

Quizplus · Accepted Answer

The rule of rational choice involves marginal thinking, meaning that decision-makers weigh the additional costs and benefits of each option. Option A is not accurate since complete information is often not available. Option B is not accurate since rational choice considers both marginal benefits and costs. Option D is not accurate since rational choice can be applied in many decision-making contexts, not just in business.

Which of the Following Statements About the Rule of Rational