How does a technological change that makes workers more productive affect the demand for labor at a given wage and price?

Q: For each of the following scenarios, indicate whether the relationship between the two variables is ...

A: Given information:   A- Horizontal to the x-axis B- Vertical straight line to Y-axis C- Upward slop...

Q: Maldonia has a comparative advantage in the production of while Desonia has a comparative advantage ...

A: Comparative advantage refers to the ability of a person or country to produce goods or services at a...

Q: Suppose that in 1994 the total output in a single-good economy was 10,000 buckets of chicken. Also s...

A: Price in 2015 = $16 Price in 1994 = $10  

Q: What are the implications of slow adoption of modern technology on the national economy?

A: Technology refers to the improvement of an economy in terms of the technical aspects or the innovati...

Q: The following graph shows, in percentages, how much of the paid labor force in the United States con...

A: A,B and D would apply. More women were employed in 2017. More men held jobs in 1950 than in 2017.  

Q: Refer to Figure #2. When tax per unit is imposed, what is total tax revenue collected by the governm...

A: Per unit tax is the fixed tax imposed by the government on each unit of goods and services sold.

Q: Because the free market (competitive) equilibrium maximizes social efficiency, why would the governm...

A: Government intervention signifies the actions taken by the government to alter the behavior of indiv...

Q: Compare Paul Krugman's theory of international trade, emphasizing its foundations from traditional t...

A: There are continuous attempts by economists to learn how existing trade patterns came into existence...

Q: Need the last 2 please only

A: The labor market is a market where employees work as suppliers and employers work as demanders.

Q: How are important values such as sustainability reflected in the marketplace today?

A: Meeting our own needs without compromising the ability of the future generations to meet their own n...

Q: Figure #3: The graph below represents a $10 per unit tax on a good then the amount bought and sold i...

A: We have given the following information 

Q: (c) Why Marginal cost curve is U-shaped

A: Marginal cost curve is U shaped because initially Marginal cost is high. Afterwards it decreases and...

Q: Suppose that Boston consumers pay twice as much for avocados as for tangerines, whereas San Diego co...

A: The marginal rate of substitution is the amount of a good which a consumer is willing for consumptio...

Q: Table #1: The demand schedule below pertains to sandwiches demanded per week. Quantity Demanded Pric...

A: Given For Alfred:    Price $3: Quantity demanded =3                        Price $5: Quantity demand...

Q: Lactose intolerance causes difficulty digesting dairy products that contain lactose (milk sugar). It...

A:

Q: The following table shows nominal GDP and an appropriate price index for a group of selected years. ...

A: Real GDP = (Nominal GDP/Price Index)*100 If the Real GDP is greater than nominal, then it is inflati...

Q: When prices rise, why are suppliers/firms willing to increase output? When prices rise, why are supp...

A: To understand the relationship between quantity supplied and price level, one need to know about the...

Q: (c) Why Marginal cost curve is U-shaped?

A: Marginal cost represents the rate of change in total cost due to the production of an additional uni...

Q: If the interest rate is 6% compounded quarterly, how long (number of quarters) will it take to earn ...

A: The interest income on any instruments such as bank deposits and bonds is the amount received over a...

Q: (b) Some producers do not stop their production when they face loss in their production. Why

A: When total revenue is less than total variable cost,upto that point production can be continued,even...

Q: I want to get answer to my question.

A: TC = total cost MC= marginal cost AC= average cost.  The prices of inputs are (4,6)  

Q: MCQS 1- Which of the following is NOT a component of Gross Domestic product? Investment. Consumptio...

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...

Q: What Is Fixed-Price Contracts?

A: A contract is a valid and enforceable agreement between two or more parties involving in a trade of ...

Q: (b) Why Law of diminishing return is more applicable in agriculture sector?

A: Law of diminishing return is more applicable in agriculture sector.

Q: What is the difference between a change in demand and a change in quantity demanded? Supply and quan...

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a...

Q: What information is contained in an indifference curve? Why are such curves Convex to the origin

A: Indifference curve (IC) is an important concept in consumer theory under micro economics.

Q: There are five shoe shops in the city of Friedmantown that are constantly competing for customers. E...

A: When there is more than two shops in a market, that type of market is called Perfectly competitive m...

Q: 14. A shop which sells T - shirts has a demand function and a total cost function given by the equat...

A: Costs are the expenses that firms incur in the production of goods and services. Revenue is the inco...

Q: Which of the following are myths about the U.S. economy? Check all that apply.   A. The United St...

A: Since US consume 88% of total items that are produced in US, therefore, we can say that US is relati...

Q: Which of the following must be true of an economy in equilibrium with no foreign sector (check all t...

A: GDP refers to the total value of finished goods and services that produced within the economic bound...

Q: _______________________ happens when the economy is producing at its potential and unemployment is a...

A: Since you have asked multiple questions, we will solve the first question for you. If you want any s...

Q: The following graphs show the relationship between the price of cherries and the quantity of cherrie...

A: Quantity supplied is the total supply of goods and services that a manufacturer produces and sells a...

Q: Each extra worker produces an extra unit of output up to six workers. After six, no additional outpu...

A: Total product refers to the output amount that can be produced by a given amount of variable factor,...

Q: the limitations of capital accumulation, and how it leaves a significant part ofeconomic growth unex...

A: The capital accumulation implies the increase in the amount of capital in a nation which leads to in...

Q: Economics Question

A: Budget constraint: 500 = 3B + 2P

Q: Supply and demand conditions can also be expressed in quadratic form. Find the equilibrium price and...

A: The equilibrium price and quantity are determined where demand is equal to supply. Demand function: ...

Q: (b) Some producers do not stop their production when they face loss in their production. Why?

A: Production of goods and services are dependent upon their market demand and the cost to the producer...

Q: When governments run budget deficits, how do they make up the differences between tax revenue and sp...

A: A government budget is a statement of its planned expenditures and revenue receipts for a given time...

Q: Q. 5 Which are the following are short-run and which are the long-run adjustment? Explain in your ow...

A: The long-run is the situation when there are no fixed factors (every factor is considered as a varia...

Q: What is the difference between oligopoly and monopolistic competition?

A: Different market structures are categorized on the basis of number of buyers and sellers, the types ...

Q: Additionally, what is the maximal profit?

A: The total cost includes the all internal or external cost that incurred by producing the output. The...

Q: The following graphs show the relationship between the price of peaches and the quantity of peaches ...

A: The slope of a curve helps to understand the sensitivity or responsiveness of one variable to the ot...

Q: Explain how high inflation in a booming real estate market could benefit an engineer who sells a hom...

A:   A business cycle is the cyclical rise and fall in the economy .There are four phases of a business...

Q: C and D

A: c) GDP = C+ I+G+NX = Personal consumption expenditure + Net private domestic investment + Government...

Q: Table #2: The following table represents the costs of five possible sellers. Willingness to sell $1,...

A: Sellers sell a good or service in the market only when the price received from selling the good or s...

Q: The price elasticity of demand coefficient measures:         buyer responsiveness to price changes. ...

A: The demand refers to the amount of a good which an individual is able, and willing to buy at the giv...

Q: Why does total utility increased as the consumer moves to an indifference curve farther from the ori...

A: The indifference curve is defined as the locus of points of the combination of two goods, which give...

Q: Use aggregate demand (AD) and supply (AS) analysis to predict the effects of COVID-19 pandemic on in...

A: Corona virus is an infectious disease that has led to an economic standstill throughout the world. M...

Q: How a price change affects consumer optimum?

A: In consumer's equilibrium, consumer optimum means getting a maximum level of satisfaction after cons...

Q: Briefly explain  (a) Why the producer prefers stage 2 in production process.

A: There are three stages in the production process. Out of these three stages, the second stage is kno...