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29 August, 14:46

Michael is a college student. He can either buy a textbook for $100 or save up for a road trip he wants to take during the summer. This illustrates the principle that a. rational people think at the margin. b. people respond to incentives. c. trade can make everyone better off. d. people face trade-offs.

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  1. 29 August, 15:06
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    Rational people think at the margin.

    Explanation:

    Michael is demonstrating a rational behaviour, because he's trying to make a choice between a necessity and vanity.

    So, this thinking process talks about he's ability to rationalise between options.
  2. 29 August, 15:08
    0
    D. People face trade-offs
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Home » Social Studies » Michael is a college student. He can either buy a textbook for $100 or save up for a road trip he wants to take during the summer. This illustrates the principle that a. rational people think at the margin. b. people respond to incentives. c.
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