Economics (Irwin Economics)
Economics (Irwin Economics)
21st Edition
ISBN: 9781259723223
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Chapter 9, Problem 2RQ

Which of the following are short-run and which are long-run adjustments? LO9.1

a. Wendy’s builds a new restaurant.

b. Harley-Davidson Corporation lines 200 more production workers.

c. A fanner increases the amount of fertilizer used on his com crop.

d. An Alcoa aluminum plant adds a third shift of workers.

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Consider the market for sweaters in a Hamilton neighbourhood shown in the figure to the right. The consumer surplus generated by consuming the 29th sweater is OA. $67.90. OB. $58.20. ○ C. $77.60. OD. $38.80. ○ E. $19.50. Price ($) 97 68.0 48.5 29.0 29.0 Sweater Market 48.5 Quantity (Sweaters per week)
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