Economists assume people choose something when its expected costs are less than its working life. chief competitors. anticipated benefits. required maintenance

## Step 1<br />This problem is about understanding the basic principles of economics, specifically the concept of cost-benefit analysis. Economists assume that people make choices based on the expected benefits versus the expected costs. <br /><br />## Step 2<br />The expected costs are the potential losses or expenses that a person might incur when making a decision. These costs could be monetary or non-monetary, such as time, effort, or opportunity cost.<br /><br />## Step 3<br />The expected benefits are the potential gains or advantages that a person might gain from making a decision. These benefits could be monetary or non-monetary, such as satisfaction, happiness, or utility.<br /><br />## Step 4<br />When the expected benefits outweigh the expected costs, people are more likely to make a decision. This is because the benefits they expect to gain from the decision are greater than the costs they expect to incur.<br /><br />## Step 5<br />In this problem, the expected costs are less than the anticipated benefits. This means that the benefits that a person expects to gain from a decision are greater than the costs they expect to incur.