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)trade can make everyone better off.
B)people face trade-offs.
C)rational people think at the margin.
D)people respond to incentives.

Question

Quizplus · Accepted Answer

Michael is faced with a trade-off between buying a textbook and saving up money for a road trip. He cannot do both due to limited resources. This illustrates the concept of people facing trade-offs, which is the best choice out of the given options.

Michael Is a College Student