Even before the pandemic, bicycle supply chains were strained. Why was this? Check all that apply. Falling barriers increase the bargaining power of business firms by decreasing the incomes of consumers. Many bikes are made in China, and former President Trump's high tariff rate forced manufacturers to find alternate production locations. Making bikes is still an artisanal process, so craft bike makers could not keep up with the demand. O Americans prefer to drive gas trucks rather than bike.
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- At some colleges and universities, economicsprofessors receive higher salaries than professors insome other fields.a. Why might this be true?b. Some other colleges and universities have a policyof paying equal salaries to professors in all fields.At some of these schools, economics professorshave lighter teaching loads than professors insome other fields. What role do the differences inteaching loads play?use diagramsa. What is the effect on the equilibrium price and quantity traded in market of theintroduction of a new technology that reduces costs of production for all firms?b. What is the effect on the equilibrium price and quantity traded in a market of a changein tastes that reduces the demand for the product?c. What is the effect on the equilibrium price and quantity traded in a market of theimposition of a tax per unit sold on suppliers?d. What is the effect on the equilibrium price and quantity traded in a market of thepayment of a subsidy per unit sold paid to suppliers?(a) Solve for the equilibrium wage and employment level.(b) Graph the demand and supply curves.(c) At this equilibrium, what is your welfare/gains from trade?(d) Now, assume a minimum wage has been implemented at $20. How will this impact yourdemand? Supply?(e) How many workers are displaced by this new policy? How much “extra” unemployment occurswith this new policy? Hint: Think about the reservation wage.(f) Graph the new labor demand and supply with this minimum wage.(g) At this equilibrium, what is your new welfare? Are you better off with this change? Explain.
- UST 40,000 (Commerce 5,000; Medicine 15%; AB 20%; Law 5% and others)Average price per computer device Php25,000Average price per Apple device Php30,000In UST, students from Commerce, Law, and AB purchased at least one (1) computer device in December 2020.Given that students replace their computer devices once every 2 years on average, what is the projected market size (units/revenues) for computer devices for these colleges until the end of2025?What is the concentration of sales/revenue of computer devices among the colleges (CDI)?Why might the grants-in-aid expenses in the athletic department financial statement overstate the actual expenditures? a. The actual marginal cost of an athlete to the university may be less than the amount of his or her scholarship b. The NCAA requires schools to use out-of-state tuition as the proxy for the cost of an education, which inflates the reported expense c. Athletic directors have been known to inflate these figures as a way to extract larger subsidies from the university d. Most schools combine the scholarship expenses of both athletes and nonathletesA current debate in education is whether teachersshould be paid on a standard pay scale based solelyupon their years of training and teaching experience,or whether part of their salary should be based upontheir performance (called “merit pay”).a. Why might merit pay be desirable?b. Who might be opposed to a system of merit pay?c. What is a potential challenge of merit pay?d. A related issue: Why might a school district decideto pay teachers significantly more than the salariesoffered by surrounding districts?
- Suppose that Congress passes a law requiringemployers to provide employees some benefit (suchas healthcare) that raises the cost of an employee by$4 per hour.a. What effect does this employer mandate haveon the demand for labor? (In answering this andthe following questions, be quantitative whenyou can.)b. If employees place a value on this benefit exactlyequal to its cost, what effect does this employermandate have on the supply of labor?c. If the wage can freely adjust to balance supply anddemand, how does this law affect the wage andthe level of employment? Are employers better orworse off? Are employees better or worse off?d. Suppose that, before the mandate, the wage in thismarket was $3 above the minimum wage. In thiscase, how does the employer mandate affect thewage, the level of employment, and the level ofunemployment?e. Now suppose that workers do not value themandated benefit at all. How does this alternativeassumption change your answers to parts(b) and (c)?During the night, the electricity sector has a marginal cost of $1/MWh (megawatt-hour) forthe first 100 MWh produced (from wind turbines), and $20/MWh for each additional unit (from gasgenerators). During the day, they have a marginal cost of $1/MWh (megawatt-hour) for the first 50MWh produced (from solar panels), and $20/MWh for each additional unit (from gas generators).Nighttime and daytime demand are given by QnightD = 50 −P and QdayD = 200 −P , respectively.What are the market quantity and price during the day, and the market quantity and price at night?This is a model of the wholesale market for electricity, which you can think of as being competitive,but there is no resale between night and day.What Type of attraction are in Uk? and which are the main Characteristcs of supply? (what make different from the rest of the world)
- Return to Figure 9.2. Suppose P0 is 10 and P1 is 11. Suppose a new firm with the same LRAC curve as the incumbent tries to bleak into the market by selling 4,000 units of output. Estimate from the graph what the new firms average cost of producing output would be. If the incumbent continues. to produce 6,000 units, how much output would the two films supply to the market? Estimate what would happen to the market price as a result of the supply of both the incumbent firm and the new entrant. Approximately how much profit would each firm earn? Figure 9.2 Economics of Scale and Natural MonoployHow do economists define equilibrium in financial markets?Explain the logic behind the race to the bottom argument and the likely reason it has not occurred.