Joe has purchased a new bike for $500. The taxes on the bike add another $30 to the total, making his final cost $530.

In this situation, the taxes paid by Joe are an example of

A) opportunity cost.

B) the law of supply.

C) voluntary exchange.

D) involuntary exchange.

Question

Katelynn Chapman

16 February, 10:28

+3

Answers (2)

Know the Answer?

Rory Weiss · Answer 1

involuntary exchange

Kelton Morrison · Answer 2

Kelton Morrison 16 February, 13:02

0

involuntary exchange

Joe has purchased a new bike for $500. The taxes on the bike add another $30 to the total, making his final cost $530.In this situation, the taxes paid by Joe are an example ofA) opportunity cost.B) the law of supply.C) voluntary exchange.D) involuntary exchange.