Need help with this, I did something please check it and let me know if its good. Also for the empty spots here are the possible answers, you must choose only one of them: Consider the previous graph. Suppose that the price of a sedan increases from $20,000 to $25,000. This would cause thequantity supplied_____________(Choose one of these: quantity supplied or supply) of sedans to increase, which is reflected on the graph by amovement along_________(Choose one of these: movement along or shift of) the supply curve. Suppose the workers' union accepts a pay cut. This causes a___________(Choose one of these: rightward shift of, leftward shift of, leftward movement along or rightward movement along) the supply curve because the pay cut makes cars____________(Choose one of these: safer, more expensive to build, less expensive to build, or more fashionable) . The following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans are identical and sell forthe same price. Two factors that affect the supply of sedans are the level of technical knowledge-in this case, the speed with whichmanufacturing robots can fasten bolts, or robot speed-and the wage rate that auto manufacturers must pay their employees. Initially, thegraph shows the supply curve when robots can fasten 2,500 bolts per hour and autoworkers earn $25 per hour.Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.508PRICE (Thousands of dollars)9cars00Supply100 200 300 400 500 600 700 800 900QUANTITY (Sedans per month)Suppose the workers' union accepts a pay cut. This causes aGraph Input ToolSupply for SedansPrice of a Sedan(Thousands ofdollars)Quantity Supplied(Sedans per month)SUPPLY SHIFTERSRobot Speed(Bolts per hour)Autoworker Wage(Dollars per hour202252500Consider the previous graph. Suppose that the price of a sedan increases from $20,000 to $25,000. This would cause thequantity supplied of sedans to increase, which is reflected on the graph by a movement along the supply curve.25(?the supply curve because the pay cut makes

Supply curve of a product depicts the direct relationship between price and quantity supplied,…

Answered: Consider the previous graph. Suppose…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Need help with this, I did something please check it and let me know if its good. Also for the empty spots here are the possible answers, you must choose only one of them:

Consider the previous graph. Suppose that the price of a sedan increases from $20,000 to $25,000. This would cause thequantity supplied_____________(Choose one of these: quantity supplied or supply) of sedans to increase, which is reflected on the graph by amovement along_________(Choose one of these: movement along or shift of) the supply curve.

Suppose the workers' union accepts a pay cut. This causes a___________(Choose one of these: rightward shift of, leftward shift of, leftward movement along or rightward movement along) the supply curve because the pay cut makes cars____________(Choose one of these: safer, more expensive to build, less expensive to build, or more fashionable) .

The following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans are identical and sell for
the same price. Two factors that affect the supply of sedans are the level of technical knowledge-in this case, the speed with which
manufacturing robots can fasten bolts, or robot speed-and the wage rate that auto manufacturers must pay their employees. Initially, the
graph shows the supply curve when robots can fasten 2,500 bolts per hour and autoworkers earn $25 per hour.
Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.
Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.
50
8
PRICE (Thousands of dollars)
9
cars
0
0
Supply
100 200 300 400 500 600 700 800 900
QUANTITY (Sedans per month)
Suppose the workers' union accepts a pay cut. This causes a
Graph Input Tool
Supply for Sedans
Price of a Sedan
(Thousands of
dollars)
Quantity Supplied
(Sedans per month)
SUPPLY SHIFTERS
Robot Speed
(Bolts per hour)
Autoworker Wage
(Dollars per hour
20
225
2500
Consider the previous graph. Suppose that the price of a sedan increases from $20,000 to $25,000. This would cause the
quantity supplied of sedans to increase, which is reflected on the graph by a movement along the supply curve.
25
(?
the supply curve because the pay cut makes

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