Final answer:
True. Rational choice for maximizing outcomes is true of the classic economic model. Individuals aim to choose actions where perceived benefits outweigh the costs. This demonstrates a cost-benefit analysis approach to decision-making. The correct option is a.
Step-by-step explanation:
Rational choice by an individual for maximizing outcomes is indeed a characteristic of the classic economic model. The answer to the question is a) True. According to this model, when facing a decision, a rational individual will choose an action if the value of the perceived benefit exceeds the value of the perceived cost.
Conversely, they will not choose an action if the value of the perceived cost exceeds the value of the benefits. This cost-benefit analysis is at the core of the classic economic model of decision-making.
However, it is important to note that while individuals may not always act in the perfectly rational, calculating way described by the economic model, they often behave approximately that way, measuring utility and costs at the margin and seeking to maximize their outcomes. The correct option is a.