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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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

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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