Question 10 Plastic is a key component in the manufacture of children's dolls. A new technology is de- veloped that allows soybeans to be used to make the plastics at a fraction of the price. What will happen to the supply curve for children's dolls? A B C D It will remain the same, but manufacturers will charge less for the dolls. It will shift to the left, as dolls will no longer offer an acceptable profit to stay in business. It will remain the same, but manufacturers will charge more for the dolls. It will shift to the right, as manufacturers will seek additional profits because of the fall- ing costs of production.

Question 10 Plastic is a key component in the manufacture of children's dolls. A new technology is de- veloped that allows soybeans to be used to make the plastics at a fraction of the price. What will happen to the supply curve for children's dolls? A B C D It will remain the same, but manufacturers will charge less for the dolls. It will shift to the left, as dolls will no longer offer an acceptable profit to stay in business. It will remain the same, but manufacturers will charge more for the dolls. It will shift to the right, as manufacturers will seek additional profits because of the fall- ing costs of production.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Have to pick what will happen in each scenario from the list
7. A shift in the supply curve of bicycles resulting from higher metal prices will lead to higher prices lower prices a shift in the demand curve larger output a. b C. d.
Question 1: Hotelling’s Rule in a rapidly changing market Let’s assume that oil was not discovered until the year 1999. The New York Times writes that“a source of energy with potential disruptive effects on the world economy” is now ready forproduction, and “other countries are watching the developments closely”.Along with many other producers, you own a small oil well. The market is very competitive. Themarginal extraction cost is $10 per barrel. The interest rate is 5%. The annual demand for oil isQ = 90,000 – 2,000P where Q is in barrels per year and P is in dollars per barrel.Use your knowledge about Hotelling’s Rule to answer the following questions: Oil is trading for $25/bbl on Jan 1st, 1999. What do you expect the path of oil pricesand extraction quantities to be from 1999-2010 (assuming no shocks to the market)?A day later, on Jan 2nd, 1999, the Wall Street Journal opens with a story that there is now amore reliable reserves estimate. Total reserves are estimated at 760,000…
A manufacturer of hospital supplies has a uniform annual demand for 180,000 boxes of bandages. It costs $20 to store one box of bandages for one year and $500 to set up the plant for production. How many times a year should the company produce boxes of bandages in order to minimize the total storage and setup costs? The company should produce boxes of bandages time(s) a year. you ge.. Next R. RAZER
Copy of The following graph displays four supply curves (HH, II, JJ, KK) that intersect at point A. PRICE (Dollars per unit) 400 360 320 280 240 200 160 120 80 40 0 H 0 40 80 A SE H + 120 160 200 240 280 320 360 400 QUANTITY (Units) Using the graph, choose the statements that are true: Between points A and C, curve KK is inelastic. Between points A and B, curve II is perfectly inelastic. Curve KK is more elastic between points A and C than curve JJ is between points A and D. Between points A and E, curve HH is perfectly inelastic.
Can you help me, to understand this question?
QUESTION 7 The demand for rubber erasers consists of two components. The first component is the demand for rubber erasers by art students. This demand is given by QA = 19,500 - 325P. The second component is the demand for rubber erasers by all others. This demand is given by Qo = 32,000 - 2,000P. (a) What is the total quantity demanded of rubber erasers if the price of an eraser is: (i) $10 (ii) $15 (iii) $20 (iv) $30 (v) $70 (b) Assume that the supply of rubber erasers is given by Qs = 14,000+ 175P. (i) Find the equilibrium price and the equilibrium quantity. (ii) Calculate the total consumer surplus. [Hint: It may be easier if you calculate the consumer surplus for art students and the consumer surplus for all others separately, and then add them up.] (c) Assume that the supply of rubber erasers is given by Qs = 8,390 + 180P. Find the equilibrium price and the equilibrium quantity. 10 (DC) EN510
Hand written solutions are strictly prohibited
General Electric (GE) produces wind turbines that generate wind power. Over the past 10 years, the advances in technology used to produce wind turbines has resulted in O GE increasing the quantity supplied of wind turbines. a decrease in the supply of wind-generated power. a rightward shift in the supply curve for wind-generated power. a movement up along the supply curve for wind-generated power.
1-8 please