Recall Application 3, "Jasper Johns and House Painting," to answer the following questions:
-Suppose that a house painter can earn $200 per day painting houses and painting Jasper Johns' house requires 25 days of labor. According to the application, if Jasper Johns earns $5,000 per day painting art, then he must:
A) never paint his house.
B) paint his house if he can paint it in less than 25 days.
C) paint his house if he can paint it in less than a day.
D) switch occupations and paint houses only.

Question

Quizplus · Accepted Answer

Jasper Johns should paint his house only if he can do it in less than a day because his opportunity cost of painting art is $5,000 per day, which is much higher than the $200 per day he would save by painting his own house.

Recall Application 3, "Jasper Johns and House Painting," to Answer