Asked by Elizabeth Gossum on May 30, 2024
Verified
When a decision maker chooses the option leading to the outcome that he or she most prefers,he or she has made a _____ decision.
A) irrational
B) rational
C) profit-maximizing
D) loss-minimizing
Rational Decision
The choice made by logically considering all available information, potential costs, and benefits to achieve the optimal outcome.
- Acquire knowledge about the process of making rational decisions and its key determinants.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
B
Explanation :
A rational decision is one where the decision maker analyzes all available options and chooses the one that leads to the outcome they most prefer. This process involves weighing the pros and cons and considering all relevant information to arrive at the best possible decision. Therefore, when the decision maker chooses the option leading to their most preferred outcome, they have made a rational decision.
Learning Objectives
- Acquire knowledge about the process of making rational decisions and its key determinants.
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