Rational choices:
A)are based on a comparison of total benefits and total costs.
B)can only be made by those who are economists.
C)are made based on expectations of the additional benefits and additional costs involved.
D)measure benefits based on the past.

Question

Rational choices:​
A)​are based on a comparison of total benefits and total costs.
B)​can only be made by those who are economists.
C)​are made based on expectations of the additional benefits and additional costs involved.
D)​measure benefits based on the past.

Quizplus · Accepted Answer

Rational choices involve comparing the additional (marginal) benefits and costs of a decision, not total or past benefits and costs.

Rational Choices:​

Rational Choices: