Author Question: American Idol is a popular television program where contestants compete to win a 1 million record ... (Read 106 times)

darbym82 · **on:** Jun 29, 2018

American Idol is a popular television program where contestants compete to win a 1 million record deal. To determine the winner, fans either dial the number or send a text message indicating their favorite contestant.

The contestant with the highest number of texts and phone calls wins. What is the scarce resource in this example? A) 1 million record deal
B) television ratings
C) phone calls and text messages
D) fans

Question 2

If the wage rate paid in the fast-food outlets in a small town is greater than the reservation wage of all the teenagers in the town and less than the reservation wage of all the adults, then the fast-food outlets will hire ________.

A) mostly adults and a few teenagers
B) some adults and some teenagers
C) only adults
D) only teenagers