Which of the following best characterizes rational self-interest by an individual?
A) The use of some mathematical model when solving a problem is desirable.
B) Maximize expected benefits and minimize expected costs.
C) Only monetary costs and benefits are weighed.
D) Scarcity can be eliminated for that individual.

Question

Which of the following best characterizes rational self-interest by an individual?  
A) The use of some mathematical model when solving a problem is desirable. 
B) Maximize expected benefits and minimize expected costs. 
C) Only monetary costs and benefits are weighed. 
D) Scarcity can be eliminated for that individual.

Quizplus · Accepted Answer

Rational self-interest involves making choices that maximize expected benefits and minimize expected costs. This includes considering both monetary and non-monetary costs and benefits. However, rational self-interest does not assume that scarcity can be eliminated for an individual, nor does it require the use of mathematical models.

Which of the Following Best Characterizes Rational Self-Interest by an Individual