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The following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans are identical and sell for the same price. Two factors that affect the supply of sedans are the level of technical knowledge- in this case, the speed with which auto-manufacturing robots can fasten bolts, or 'robot speed'-and the wage rate that auto manufacturers must pay their employees. Initially, the graph shows the supply curve when robots can faster 1500 bolts per hour and autoworkers earn $30 per hour.
Consider the previous graph. Suppose that the price of a sedan decreases from $ 26000 to $ 21,000 this would cause the (quantity supplied, or supply) of sedans to increase, which is reflected on the graph by a (shift of or movement along) the supply curve.
Suppose the workers union accepts a pay cut from $ 30 per hour to $ 25 per hour. Assuming that the robot speed remains the same, This causes a (rightward shift of, leftward movement along, rightward movement along, leftward shift of( the supply curve. This is because the pay cut makes cars (more fashionable, safer, less expensive to build, more expensive to build)?
You have just won $100,000 lottery. Use a diagram showing the tradeoff between leisure ( on x-axis) and goods (y-axis) for the following: Show how the lottery winning affect your budget line
q.the new york times reported that the inability of opec to agree last week to cut production has sent the oil market
Consider a group of 10 friends who are considering going on a road trip (is that still a thing you kids do these days, or do you just sit around and look computers?). In determining whether or not to go, each friend considers both how much they would..
What are the limits of the study? Write at least one paragraph. There are two deliverables for this Case Problem, the Excel spreadsheet and the written description/explanation. Please submit both of them electronically via the dropbox.
I have recently been involved in a debate stemming from figures mentioned in this blog post (the blogger was advocated by Occupy London's facebook page and verifying the level of "over-sensationalism" portrayed in the post would make or break my rela..
Skyscraper City has a subway system, for which a one-way fare is $1.50. There is pressure on the mayor to reduce the fare by one-third, to $1.00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue f..
Think of a business firm you recently visited (such as Walmart, Home Depot, Red Lobster, Barnes & Noble, McDonald's, etc.). What motivated the producers of all the individual products in the store to make them and offer them for sale
What does the Taylor rule imply that policymakers should do to the fed funds rate under the following scenarios?
Explain in what circumstances the relationship between interest rates and investment will be direct and in what circumstances it will be inverse.
Describe the current state of the U.S. economy using the two monetary aggregates (M1 and M2) currently published by the Federal Reserve. In your description, illustrate the trends of the two monetary aggregates. . Evaluate what the Federal Reserve Ba..
Illustrate graphically the equilibrium of such a monopolistic firm.
Examine the following EVM data for the Acme project, a hypothetical construction project, to view information on the past and future performance: Calculate the cost variance (CV), schedule variance (SV), cost performance index (CPI), and schedule per..
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