Question

in economics, a decision has been made when the marginal benefits exceed the marginal costs. what is this decision known as? a) a profit b) a rational decision c) an equilibrium price d) voluntary exchange

Explanation:

In economics, a decision where an actor chooses an option only when the marginal benefit (additional gain) is greater than the marginal cost (additional cost) is defined as a rational decision, as it aligns with the core principle of rational choice theory. Profit refers to total revenue minus total cost, equilibrium price is the market price where supply equals demand, and voluntary exchange is a trade between parties with mutual consent, none of which match the given definition.

Answer:

B. A rational decision