Suppose that the price of sedans in the previous graph increases from $24,000 to $29,000 per car. This would cause thesedans to increase, which is reflected on the graph by athe supply curve.Suppose a technological improvement increases the speed with which robots can attach bolts to cars from 2,500 bolts per hour to 3,000 bolts perhour. Assuming that the wage rate remains the same, this would cause athe supply curve. This is because thetechnological improvement makes cars

Price and supply have a positive relationship. While the price is an independent variable.

Answered: Suppose that the price of sedans in the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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i need help with this question 5 from my microeconmics assigments. i have already gotten it wrong twice.
Explain how to find the equilibrium priceand quantity for a factor of production.
Explain the impact of higher corn prices on consumers. Draw a graph and upload your graph on canvas explaining the impact of higher corn prices on consumers. Explain which curve will shift on your graph and the change in price and quantity demanded. Explain the impact of higher corn prices on producers. Draw a graph and upload your graph on canvas explaining the impact of higher corn prices on producers. Explain which curve will shift on your graph and the change in price and quantity supplied. Edit View Insert Format Tools Table Paragraph |BIU A e p?u|: 12pt v
In 2002, a meeting is hold in a state-owned farm with one million mu of arable land—B farm after the harvest: Production department section Li said: This year we planted 0.6 million Mu (a unit of area, 1 Mu=0.0667 hectares) wheat, and got 280 kilograms’ wheat per Mu. But after this year's harvest, a new difficulty arises that price of wheat is decreasing now. Usually, the farm will keep 10 million kilograms as seeds and 18 million kilograms for living, and sell the rest to the market. If the firm doesn't sell and keeps the wheat in a long term, the weight of the wheat will decline for the moisture loss from 14% to 13%, which means the farm will loss 1.4 million kilograms. The manager of the supply and marketing, Mr. Liu said: Last year, the price of wheat is 0.96 yuan per kilogram, but now is only 0.80 yuan per kilogram. This causes a big loss to our farm this year. Therefore, we can't sell now! The manager of grain, Mr. Lin said: We have to sell. We predict that the low wheat price…
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Sun 14 Mar AA A elearn.squ.edu.om Log In Log In Favorites O ACCT2121_y... أغلى سيارات ف. . •( Log In LEARNING SYSTEM (ACADEMIC) nciples of Macroeconomics|| Spring21 tion Which of the following would cause an increase in the market supply of drones? Select one: O a. a decrease in the demand for drones put of Ob. an increase in taxes levied on drones c. an increase in the cost of components used to make drones d. an increase in the number of firms making drones mavigation d Al Risi
Review Questions 2.1 2.2 What is the law of supply? What are the main vari- Su ables that will cause a supply curve to shift? Give an b example of each.
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Economics: Labor Economics Question: 1 If unskilled labor and robotics are substitutes in production a decrease in the price of robotics is predicted to a. decrease the demand for unskilled labor if the scale effect outweighs the substitution effect. b. decrease the demand for unskilled labor if the substitution effect outweighs the scale effect. c. unambiguously increase the demand for unskilled labor. d. unambiguously decrease the demand for unskilled labor. Question: 2 Assuming capital is fixed in the short run and variable in the long run what would likely happen to wages in the short and long run following a wave of immigration? a. a large decrease in the short run, followed by a smaller decrease in the long run b. a small decrease in the short run followed by a larger decrease in the long run c. an increase in the short run followed by a large decrease in the long run d. a decrease in the short run followed by an increase in the long run Question: 3 Which of the following…
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