Rational choice requires that opportunity cost be

A) ignored in making a decision.
B) considered for individual choices, but not for societal choices.
C) computed, but not actually used in making a decision.
D) considered as part of making a decision.
E) used as the sole decision criterion.

Rational Choice

A theory in economics and sociology that suggests individuals choose the option that provides the highest level of satisfaction, assuming the availability of information and a clear preference set.

Opportunity Cost

The effect of spurning potential profits from various options by selecting a particular one.

Societal Choices

Decisions made by a society as a whole about the allocation of resources and priorities among different uses.