Refer to the accompanying table. Martha's opportunity cost of making a cake is: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes 

Define the quantity supplied of a good or service

What will be an ideal response?

Consider the market for opticians. What is likely to happen to the equilibrium wage and quantity of opticians if more and more people turn to laser eye surgery instead of wearing glasses or contact lens?

A) The equilibrium wage falls and the equilibrium quantity of opticians rises. B) The equilibrium wage and the equilibrium quantity of opticians rise. C) The equilibrium wage and the equilibrium quantity of opticians fall. D) The equilibrium wage rises and the equilibrium quantity of opticians falls.