Which results from the fact that costs and benefits are based on personal preferences?

Question

Responses

The benefits will always be greater than the costs.

The benefits will always be greater than the costs.

Different types of information lead to the same decision.

Different types of information lead to the same decision.

Monetary factors are more important than nonmonetary factors.

Monetary factors are more important than nonmonetary factors.

Both monetary and nonmonetary factors are taken into account.

Answer 1

The correct response is:

Both monetary and nonmonetary factors are taken into account.

This outcome reflects the idea that personal preferences influence how individuals weigh costs and benefits, leading them to consider both types of factors in their decision-making process.