The answer is A. The program prints:
52

Why?
The loop remembers the biggest number it has seen so far, and replaces it whenever it finds a bigger one. This is how computers find the maximum.
Trace table
A trace table follows the program step by step. Here’s this one:
| n | n > biggest? | biggest |
|---|---|---|
| 48 | yes | 48 |
| 52 | yes | 52 |
| 14 | no | 52 |
| 35 | no | 52 |
| 27 | no | 52 |
The code again
numbers = [48, 52, 14, 35, 27]
biggest = 0
for n in numbers:
if n > biggest:
biggest = n
print(biggest)
Try it: change one number in the program and predict the new output before you run it.