Because of a late night out with friends, Libby decided to sleep in rather than attend her 8 a.m. economics class. According to economic analysis, her choice was

Question

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Economic analysis suggests that rational individuals make choices based on their preferences and values. In this case, Libby has made a rational choice if she values sleep more highly than the benefits she expects to receive from attending the class. It is not necessarily irrational to skip a single class if the individual believes that the cost of attending (such as being tired and unable to concentrate) is higher than the benefit of attending. However, if Libby continuously misses classes, it may become irrational as it could negatively impact her grades and overall academic success.

Because of a Late Night Out with Friends, Libby Decided