Driven down the price of collecting garbage

Assignment Help Business Economics
Reference no: EM131096060

In Vintland, sanitation engineers are being replaced with garbage robots, which have fewer negative effects and many more significant benefits. However, the labor cost efficiency of garbage robots has driven down the price of collecting garbage so significantly that sanitation engineers can no longer compete. After six months, everybody has switched to the cheaper and better garbage robots.

Please select the choice below that best describes the short-run effects of this industrial change on Vintland\'s GDP and its standard of living. Assume that Vintland consumes the same quantity of collecting garbage now as they did six months ago.

A. GDP increases and standard of living decreases

B. GDP and standard of living both increase

C. GDP and standard of living both decrease

D. GDP decreases and standard of living increases

E. There is not enough information to answer this question

Reference no: EM131096060

Questions Cloud

Discuss lewin change management model : 1. In 200 words or more, briefly discuss Lewin change management model and Kotter's eight-step change model. Compare and contrast the two models. Which do you believe is more effective? Why? Please cite all resources according to APA standards.
Discusson proempowerment of employees : Discusson Proempowerment of Employees
Five factor model of personality : 1. An experiment involves manipulation of ______________ variable and the observation of its effects.
In the table below are cost and demand data for monopolist : In the table below are cost and demand data for a monopolist.
Driven down the price of collecting garbage : In Vintland, sanitation engineers are being replaced with garbage robots, which have fewer negative effects and many more significant benefits. However, the labor cost efficiency of garbage robots has driven down the price of collecting garbage so si..
How important do you find organization to be in a managerial : How important do you find organization to be in a managerial role and have you had a situation where being organized helped you in a conflict at work or school?
Homework assignment-principles of management : For this homework assignment, you will develop a supporting human resource (HR) plan for an organizational strategy. In a paper of three to four pages (750-1000 words) of text (not including the title or reference pages), offer your ideas of a pro..
Low labor costs make it competitive outsourcing destination : Country X is a growing economy located in southeast Asia. Although it has a large population, it also has a disproportionately high number of working age people. A large English-speaking workforce and low labor costs make it a competitive outsourcing..
Calculate the retarding force : a car weighing 9800N is moving with the speed of 40km/h. on the application of brakes its comes to rest after traveling a distance of 50m. calculate the retarding force

Reviews

Write a Review

Business Economics Questions & Answers

  Elucidate what is the fair price of this bond

Suppose that two UK government bonds have same face values with £100. One has an outstanding maturity of 2.5 years. Its coupon rate is 9.75% and coupons are paid semi-annually.

  What is the total amount of mobile phones demanded

Apple feels it is a price leader in the mobile phone market with all the other producers acting as followers. the total demand for mobile phones is given as, if Apple wants to maximize profits, how many mobile phone units should they produce? How muc..

  Explain how and why each source is valuable and useful

Discuss this week’s objectives with your team. Your discussion should include the topics you feel comfortable with, any topics you struggled with, and how the weekly topics relate to application in your field.

  Decreasing or uncertain effect on the level of average cost

Indicate whether each of the following involves an upward or downward shift in the long run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing,..

  Genetically modified organisms and business duties

In 200 words Explain Cooley’s argument in “Genetically Modified Organisms and Business Duties” What would Cooley say about the activities of Monsanto and related in the case study “Monsanto’s

  Will ralph increase or decrease the number of hours

If the wage rate for his primary job increases to $22 per hour, will Ralph increase or decrease the number of hours he works in the secondary job?

  What is the typical response from the exporting country

Suppose that with 1 unit of labor, Canada can produce 40 TVs or 20 computers. With 1 unit of labor, Taiwan can produce 30 TVs or 10 computers. Assume that a country imposes a tariff in order to gain a price advantage on an item. What is the typical r..

  The economy is starting from equilibrium

The economy is starting from equilibrium. The following shocks then hit the economy in order: interest rates rise, business taxes increase, and there is an expectation among consumers that there will be a severe increase in inflation over the coming ..

  Credit policy decision

Henderson Office Supply is considering a more liberal credit policy to increase sales, but expects that 9 percent of the new accounts will be uncollectible. What is the level of accounts receivable to support this sales expansion? What would be Hende..

  Monopolistically competitive firms-what are the measures

We’ve seen that monopolistically competitive firms will try to differentiate their products in order to eliminate substitutes. Are there comparable measures that can be taken in labor markets to decrease the number of “substitutes” for some types of ..

  Which farm will supply each market in order to minimize cost

Your job as assistant manager is to identify which farms will supply each market in order to minimize the transportation costs - However there are many other variables at play in your decision that you must go out and identify or estimate.

  3analyse the two following situations for forms in

3.analyse the two following situations for forms in competitive markets a suppose tha tc 100 15q where tc is total cost

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd