Which type of occupation is expected by the U.S. Bureau of Labor Statistics to be the fastest growing from 2020 to 2030? Multiple Choice manufacturing о service о construction mining A technological improvement that causes an increase in the marginal product of a resource will Multiple Choice decrease the demand for the resource. increase the demand for the resource. decrease the marginal revenue product. increase the marginal resource cost.

Which type of occupation is expected by the U.S. Bureau of Labor Statistics to be the fastest growing from 2020 to 2030? Multiple Choice manufacturing о service о construction mining A technological improvement that causes an increase in the marginal product of a resource will Multiple Choice decrease the demand for the resource. increase the demand for the resource. decrease the marginal revenue product. increase the marginal resource cost.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter12: The Supply Of And Demand For Productive Resources

Section: Chapter Questions

Problem 11CQ

See similar textbooks

Similar questions

It has been mentioned that there should be a match of supply and demand in a company that produces spare parts.Department A can produce parts at a rate of 80/day.Department B uses those parts at the rate of 10/day.Each day unused parts are added to inventory.At what rate does inventory of unused parts buid up?
answer quickly
Term used to describe demand that can be accuratelycalculated to meet the need of a production schedule,for example.
Price ($) 1000 500 300 0 300 500 Supply Demand What is the total cost of producing 300 iPads? 1000 Quantity
Demand for a product is price inelastic. What effect will a rise in price have on demand and total revenue? Pick a, b, c, or d
The quantity supplied of a good isA) equal to the difference between the quantity available and the quantity desired by all consumers and producers.B) the same thing as the quantity demanded at each price.C) the amount that the producers are planning to sell at a particular price during a given time period.D) the amount the firm would sell if it faced no resource constraints.
Demand [ Select ] the longer the time frame. more inelastic more elastic Demand is (Select ] the more substitutes there are for a good. Supply is I Select ) v the harder it is to scale up production of a good.
An increase in the cost of flour used to bake bread is most likely to
uèstion 1 Supply will be inelastic if the producer is producing in the long run O True O False
6. Who should pay the tax? The following graph gives the labor market for laboratory aides in the imaginary country of Sophos. The equilibrium hourly wage is $10, and the equilibrium number of laboratory aides is 250. Suppose the federal government of Sophos has decided to institute an hourly payroll tax of $4 on laboratory aides and wants to determine whether the tax should be levied on the workers, the employers, or both (in such a way that half the tax is collected from each party). Use the graph input tool to evaluate these three proposals. Entering a number into the Tax Levied on Employers field (initially set at zero dollars per hour) shifts the demand curve down by the amount you enter, and entering a number into the Tax Levied on Workers field (initially set at zero dollars per hour) shifts the supply curve up by the amount you enter. To determine the before-tax wage for each tax proposal, adjust the amount in the Wage field until the quantity of labor supplied equals the…
Grocery stores utilize elther cashiers or self-checkout machines, substitute resources, when customers are ready to complete their transactions. A wage increase for cashiers will result in
Nike sells branded sneakers. If it starts at a quantity of 1, as Nike increases quantity sold, its marginal revenue will