Which of the following would cause an increase in the market supply of mountain bikes?
A) a decrease in the demand for mountain bikes
B) an increase in taxes levied on mountain bike manufacturers
C) an increase in the cost of components used to assemble mountain bikes
D) an increase in the number of firms making mountain bikes
D
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John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the table below:Hours PerDay CleaningWindowsTotal Numberof WindowsCleaned0017211314416517Should John spend a third hour cleaning windows?
A. Yes, because the additional amount he would earn is $6, which is better than earning nothing. B. No, because the additional amount he would earn is $6, which is less than his opportunity cost of $7. C. Yes, because he would earn $28. D. Yes, because the additional amount he would earn is $14, which is greater than his opportunity cost of $7.
What happens in public schools when government funds subsidize education?
A) There is a shortage of schools. B) The quality of education rises. C) The cost of providing the education is less than what the student pays. D) The cost of providing the education is more than what the students pays.