Question

9. What is the rational decision making model that ed

Answer 1

Cost-Benefit analysis is used in rational decision making model by economists use to make decisions

Explanation:

A process that has multiple steps is a Rational decision making. It follows many steps right for identifying the problem to finding the logical and sounded decisions to that problem. The main thing that this model assumes is that the available information is complete and there will be enough resources, timelines and ability which is cognitive for the purpose of choosing the alternatives.

The main thing that is being used in this model in making decisions is Cost-benefit analysis . Here there is an assumption that people will be choosing that alternative that will have more benefits with least cost.