Which of the following choices is an example of a trade-off?
Mike has $100. He wants to buy a bike that costs $75 and three speakers that cost $30 each. He decides not to buy a bike so that he can afford all three speakers.
Edgar lives in a country in which the government controls the factors of production. He works in a factory where all the workers make the same wage and has limited access to luxury goods like electronics
OAs demand for Alice's paintings increases, she decides to increase her prices
Grasshoppers wipe out most of the US wheat crop one year. As a result, the price of wheat rises for consumers