Read the detailed case study attached below. Use the economics concepts learned in Chapter one to answer the following questions:
Maya earns $50/hour. John earns $45/hour + 5% commission + bonus (commission and bonus are based on his performance).
(Note: Some economics concepts you may consider — opportunity cost, law of demand and supply, preferences, price of alternative products, budget, price elasticity, etc. You will only receive 5 points if no economic concept is used in your explanation. )
1. What do you think about John’s decision to save money by fixing the car by himself?
2. What do you think about John’s comment on gasoline price?
3. What do you think about Maya’s plan to reduce their budget on gasoline?
The essay should be at least 300 words