Describe how each of the following will affect the supply of personal computers: a. A rise in wage rates b. An increase in the number of sellers of computers c. A tax placed on the production of computers d. A subsidy for the production of computers

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A: The effect of the technology on the elasticity can be explained as follows :  Elasticity of Supply :…

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A: Hi. Since there are multiple questions, we will solve the first three questions.   Equilibrium is…

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A: The increase in the price of recreation by = 15% Cross price elasticity = 0.15

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A: Price falls from $5 to $3. Thus, Initial price, P = 5 Final price P1= 3 % change in demand = 40%

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Q: how rise in price affect the demand for personal computer

A: Demand: It means desire, willingness, and ability to purchase a good or service.

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A: In economics, the concept of elasticity refers to the responsiveness of demand or supply to changes…