Ask Question
18 August, 14:12

A rational decision maker takes an action if and only if

+5
Answers (1)
  1. 18 August, 15:35
    0
    A rational decision maker takes action if and only if the marginal benefit of the action exceeds the marginal cost.

    Explanation:

    Rational people always think at the margin. Decision makers generally consider both the explicit and implicit costs of their actions.

    The decision-making is the process of making choices in the optimal level of benefit or utility for an individual. Rational decision making is a multi-step process that makes choices between the alternatives.

    A rational decision maker takes action if and only if the marginal benefit of the action exceeds the marginal cost.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A rational decision maker takes an action if and only if ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers