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11 August, 04:12

A rational decision maker takes an action if and only if

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  1. 11 August, 06:15
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    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.
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