10 Susan is a dairy farmer who operates a dairy farm in Quebec in perfectly competitive dairymarket. The market price of milk was $2.40 but just fell to $2.20 per litre. SusanA) can sell as much milk as she wants at $2.20 per litre.B) will produce the same amount of milk at both prices.C) can sell more at the lower price because the quantity demanded is higher at lowerprices.D) will be able to charge her initial customers $2.40 per litre.E) will have to charge some customers $2.40 per litre to stay in business.3.The basic dilemma labour unions encounter is ?a) members' roles as workers versus their roles as consumersO b) job security versus worker safetyc)wage increases versus employment growthd) "featherbedding" versus the union-wage premiumO e) wage increases versus publicly provided pensions SupplyDemandO, Q4 0, Q6Quantity of LabourAssume the labour market is competitive. If a minimum wage of W3 is introduced then, thenumber of unemployed workers isOQ4-0Q2.Q3- Q2.Q4 - Q2-Q3 - Q1.($) abem

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Susan is a dairy farmer who operates a dairy farm in Quebec in perfectly competitive dairy market. The market price of milk was $2.40 but just fell to $2.20 per litre. Susan O A) can sell as much milk as she wants at $2.20 per litre. B) will produce the same amount of milk at both prices. ) can sell more at the lower price because the quantity demanded is higher at lower prices. O D) will be able to charge her initial customers $2.40 per litre. E) will have to charge some customers $2.40 per litre to stay in business.

Susan is a dairy farmer who operates a dairy farm in Quebec in perfectly competitive dairy market. The market price of milk was $2.40 but just fell to $2.20 per litre. Susan O A) can sell as much milk as she wants at $2.20 per litre. B) will produce the same amount of milk at both prices. ) can sell more at the lower price because the quantity demanded is higher at lower prices. O D) will be able to charge her initial customers $2.40 per litre. E) will have to charge some customers $2.40 per litre to stay in business.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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