Multiple Choice
Recall the Application about Jasper Johns and house painting to answer the following question(s) . In this Application, it is assumed that Johns can earn $5,000 per day by painting works of art, and therefore should hire a house painter who charges $150 per day, and takes 10 days, to paint his house.
-Based on the Application, Jasper Johns' daily earnings are 33.33 times more than the house painter's daily earnings. If Jasper Johns' earnings per day were only twice as much as the house painter's earnings, what should he do?
A) He should still hire the house painter to paint his house.
B) He should paint his house himself.
C) He should hire a less productive house painter.
D) He should remain indifferent as to who paints the house, for the difference in daily earnings would now be much less significant.
Correct Answer:

Verified
Correct Answer:
Verified
Q28: Recall the Application about the best speed
Q29: Jacinda quit her job as a blackjack
Q30: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt=" -Joe runs a
Q31: Table 2.5<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt="Table 2.5
Q32: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt=" -Joe runs a
Q34: According to the possible trade-off example between
Q35: Opportunity cost is the difference between the
Q36: Suppose your bank pays you 4 percent
Q37: Table 2.1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2855/.jpg" alt="Table 2.1
Q38: When applying the marginal principle, you should