Suppose That Philip Is the Best Contractor in Town, and He

question 493

Multiple Choice

Suppose that Philip is the best contractor in town, and he makes $400,000 a year. Suppose that Julia Roberts is the best and highest paid actress in Hollywood, and she makes $13 million per movie. Both are the best in their respective fields of work. One reason for the significant difference in incomes has to do with the nature of the service each offers. Philip's contracting services

• A)can be provided to an unlimited number of customers in a year, but Julia's work is sold to only a few individuals in a year.
• B)can only be provided to a limited number of customers in a year, but Julia's work is sold to millions of individuals in a year - i.e., to anyone who has the willingness and ability to pay for admission to her movies.
• C)can be provided to a unlimited number of customers in a year, and Julia's work is sold to millions of individuals in a year - i.e., to anyone who has the willingness and ability to pay for admission to her movies.
• D)can only be provided to a limited number of customers in a year, and Julia's work is sold to only a few individuals in a year.

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Definitions:

Suitable Spouse

An individual deemed appropriate for marriage based on various factors such as compatibility, social status, and personal preferences.

Reached Adulthood

The transition stage where an individual moves from youth into maturity, taking on responsibilities and legal recognitions associated with adults.

Behavior

The observable actions or reactions of individuals, often in response to external stimuli or internal decisions.

Play-Time

A designated period during which individuals, particularly children, engage in recreational activities or play for enjoyment and relaxation.