Which of the following is the best example of a variable cost?

The supply of public school places is determined by

(a) individuals' demand for education. (b) direct and indirect costs of schooling. (c) political processes, often unrelated to economic criteria. (d) all of the above.

One implication of human capital theory is that college graduates should earn substantially less than high school graduates

a. True b. False Indicate whether the statement is true or false