Economics Question. As an economist, what does this situation illustrate?

Question

Anne is training for a triathlon, a timed race that combines swimming, biking, and running.

Consider the following sentence:

3.1. "Anne has decided to adjust her training program so that she has the best chance of cutting a few minutes off her total race time."

Which basic principle of individual choice does this sentence best illustrate?




A. Resources are scarce.

B. All costs are opportunity costs

C. Many decisions are taken at the margin.

D. People usually exploit opportunities to make themselves better off.

Answer 1

D. Utility maximizing stategies are always selected.

Answer 2

d

Answer 3

C.