Solution-Starting wage for teenagers increases in williston

Starting wage for teenagers increases in williston

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Reference no: EM132167922

Use supply and demand to explain the following real-world events graphically and in a paragraph. Be sure to explain what happens to the market quantity and price with a supply and demand diagram as accurate as possible.

a) In the market for entry level workers, the starting wage for teenagers increases in Williston, North Dakota from $7.30 in 2004 to $18.50 in 2014. Why did this happen?

b) Hail destroys 57% of the Florida citrus crop in 2018. What happens in the market for oranges?

c) In the market for computer hard drives, an inventor discovers how reduce hard drive head manufacturing costs by 35%. What happens in the market for computer hard drives?

d) The price for a hotel room in Miami Beach at the South Seas hotel is $135 room for the night of December 20, 2018 and $486 a room for the night of December 28, 2018.

Reference no: EM132167922

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Starting wage for teenagers increases in williston

Reference no: EM132167922

Reference no: EM132167922

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