A rational decision maker takes action if and only if the marginal benefit of the action exceeds the marginal cost.
<u>Explanation:</u>
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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Borneo is a place of conservation for natural forests and oil production. The USA buys trees and oil from them, so the burning down of trees their is slowing down is USAs tree and oil production also.
When solid ice gains heat, it changes state from solid ice to liquid water in a process called melting. Ice cubes in a cold drink, for example, gradually melt. ... When water absorbs enough heat, it becomes a gas (water vapor). This process is called evaporation.
