New Register for Workshop on How to start for NABARD 2025 (Stepwise Plan) - Apr 26, 7 PM

    Question

    A rational decision maker does which of the following? 

    A Takes an action only if the combined benefits of that action and previous actions exceed the combined costs of that action and previous actions Correct Answer Incorrect Answer
    B Takes an action only if the marginal benefit of that action exceeds the marginal cost of that action Correct Answer Incorrect Answer
    C Ignores marginal changes and focuses instead on "the big picture" Correct Answer Incorrect Answer
    D Ignores the likely effects of government policies when he or she makes choices Correct Answer Incorrect Answer
    E Both 1 and 2 Correct Answer Incorrect Answer

    Solution

    Rational decision maker takes an action only if the marginal benefit of that action exceeds the marginal cost of that action.

    Practice Next