Please all solve the question Which of the following shift the quinoa supply curve to the right?a. Quinoa farms adopt a better production technology and reduces its marginal cost.b. Major quinoa farmers in the world form a cartel.c. The world-wide outbreak of a deadly virus which makes the transportation of quinoa more difficult.O d. Consumers become more aware of the health benefits of Quinoa.The figure shows the production function of a farmer who produces grain by working certain hours each day.100PF12Hours of work per dayWhich of the following statements is correct about this production function?a. A technological improvement would shift up the production function.O b. The slope of the production function represents the marginal rate of substitution.c. The ceteris paribus assumption means that the farmer becomes more productive as he works more hours.O d. This production function exhibits economies of scale.O e. A rightward movement from B along the production function implies that the farmer has better technology.Quantity of grain produced The figure shows five technologies available to a hypothetical textile firm, which aims to produce 100 metres of cloth. The firm uses twoinputs: workers and coal.1086.3.21 2 3 456 78 9 10Number of workersWhich of the following statements can be derived from the figure above?a. More information is needed to determine the lowest cost technology.O b. Technology D is better than Technology B.O c. Technology Cis better than Technology E.O d. Technology E dominates the other four because it uses the most workers.Which of the following statements is most inaccurate?a. Inequality does not necessarily mean injustice.b. Technology, biology, economic institutions, and people's preferences are all important determinants of economic outcomes.O c. Substantive judgement of fairness involves the evaluation of the final outcome such as freedom or happiness.d. Redistribution policies bring about a Pareto improvement in the economy.e. Procedural judgement of fairness involves the evaluation of the rules and institutions that brought about the final outcome.Tonnes of coal

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Which of the following shift the quinoa supply curve to the right? a. Quinoa farms adopt a better production technology and reduces its marginal cost. b. Major quinoa farmers in the world form a cartel. c. The world-wide outbreak of a deadly virus which makes the transportation of quinoa more difficult. d. Consumers become more aware of the health benefits of Quinoa.

Which of the following shift the quinoa supply curve to the right? a. Quinoa farms adopt a better production technology and reduces its marginal cost. b. Major quinoa farmers in the world form a cartel. c. The world-wide outbreak of a deadly virus which makes the transportation of quinoa more difficult. d. Consumers become more aware of the health benefits of Quinoa.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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