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Procter & Gamble Co. is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap inward. Which is the exception? Select one: O a. an increase in the price of bar soap O b. an increase in the wage rate for factory workers who produce liquid soap O c. a decrease in the price of liquid soap O d. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap е. an increase in the price of a key ingredient of liquid soap

Procter & Gamble Co. is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap inward. Which is the exception? Select one: O a. an increase in the price of bar soap O b. an increase in the wage rate for factory workers who produce liquid soap O c. a decrease in the price of liquid soap O d. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap е. an increase in the price of a key ingredient of liquid soap

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Procter & Gamble Co. is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap inward. Which is the exception? Select one: O a. an increase in the price of bar soap O b. an increase in the wage rate for factory workers who produce liquid soap O . a decrease in the price of liquid soap O d. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap Oe. an increase in the price of a key ingredient of liquid soap
Transcribed Image Text:Procter & Gamble Co. is a major soap producer. All of the following, except one, would shift its supply curve of liquid soap inward. Which is the exception? Select one: O a. an increase in the price of bar soap O b. an increase in the wage rate for factory workers who produce liquid soap O . a decrease in the price of liquid soap O d. environmental regulations force Procter & Gamble to use a more costly technology to produce liquid soap Oe. an increase in the price of a key ingredient of liquid soap
Barb and Jim run a business that sets up and tests computers. Assume that Barb and Jim can switch between setting up and testing computers at a constant rate. The following table applies. Minutes Needed to Number of Computers Set Up or Tested in a 40-Hour Week Set Up 1 Computer Computer Test 1 Computers Computers Set Up Tested Barb 48 ? 50 40 Jim 30 40 80 60 Jim has an absolute advantage in O a. neither setting up nor testing computers and a comparative advantage in testing computers. O b. both setting up and testing computers and a comparative advantage in setting up computers. Oc. neither setting up nor testing computers and a comparative advantage in setting up computers. O d. both setting up and testing computers and a comparative advantage in testing computers.
Transcribed Image Text:Barb and Jim run a business that sets up and tests computers. Assume that Barb and Jim can switch between setting up and testing computers at a constant rate. The following table applies. Minutes Needed to Number of Computers Set Up or Tested in a 40-Hour Week Set Up 1 Computer Computer Test 1 Computers Computers Set Up Tested Barb 48 ? 50 40 Jim 30 40 80 60 Jim has an absolute advantage in O a. neither setting up nor testing computers and a comparative advantage in testing computers. O b. both setting up and testing computers and a comparative advantage in setting up computers. Oc. neither setting up nor testing computers and a comparative advantage in setting up computers. O d. both setting up and testing computers and a comparative advantage in testing computers.
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