A household's consumption choices cannot exceed limits created by
A) only the household's income.
B) only the prices of the goods and services that it buys.
C) both the household's income and the prices of the goods and services that it buys.
D) neither the household's income nor the prices of the goods and services that it buys.
Question 2
The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at 4 per hour, how many hours do students work?
A) 12,000 hours
B) 9,000 hours
C) 6,000 hours
D) None of the above answers is correct.
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