What is a rational economic decision, meaning one that makes the most sense?

What is the difference between binding and non-binding arbitration? a. non-binding arbitration means that the arbitration hearing is not held in a court room. b. binding arbitration means that the parties have agreed they will not challenge in court the ruling from the arbitration c. binding arbitration exists only at the appellate level of the court system. d. non-binding arbitration occurs when the court does not have jurisdiction over one of the parties in the arbitration.what is the difference between binding and non-binding arbitration? a. non-binding arbitration means that the arbitration hearing is not held in a court room. b. binding arbitration means that the parties have agreed they will not challenge in court the ruling from the arbitration c. binding arbitration exists only at the appellate level of the court system. d. non-binding arbitration occurs when the court does not have jurisdiction over one of the parties in the arbitration.