Attempts Average / 1 6. Scarcity, opportunity cost, and marginal analysis Darnell is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Darnell has only 20 hours this week that he can devote to training. Each hour he spends swimming is an hour that he can't spend biking or running. Which basic principle of individual choice do these statements best illustrate? People face trade-offs. O Darnell can use time most efficiently by spending the same amounts of time on swimming, biking, and running. People usually exploit opportunities to make themselves better off. O Darnell has an incentive to spend more time on swimming than on biking or running.
Attempts Average / 1 6. Scarcity, opportunity cost, and marginal analysis Darnell is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Darnell has only 20 hours this week that he can devote to training. Each hour he spends swimming is an hour that he can't spend biking or running. Which basic principle of individual choice do these statements best illustrate? People face trade-offs. O Darnell can use time most efficiently by spending the same amounts of time on swimming, biking, and running. People usually exploit opportunities to make themselves better off. O Darnell has an incentive to spend more time on swimming than on biking or running.
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 2SQ
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6. Scarcity, opportunity cost, and marginal analysis
Darnell is training for a triathlon, a timed race that combines swimming, biking, and running.
Consider the following sentence: Darnell has only 20 hours this week that he can devote to training. Each hour he spends swimming is an hour that he
can't spend biking or running.
Which basic principle of individual choice do the
statements best illustrate?
People face trade-offs.
Darnell can use time most efficiently by spending the same amounts of time on swimming, biking, and running.
People usually exploit opportunities to make themselves better off.
Darnell has an incentive to spend more time on swimming than on biking or running.
O O O
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