Answer: Shift the short-run aggregate supply curve of the original country to the left.
Explanation:
Workers are an input in the production of goods and services. If workers in an economy reduce in number, this would mean that there would be less workers able to produce goods and services in the country. This will invariably lead to a decrease in the amount of goods and services supplied and when there is a decrease in supply, the Short-Run Aggregate Supply curve will shift to the left to reflect this.
Price increase because the supply is low but the demand is more
Answer:
This answers may help you
Answer:
total cost = $22
Explanation:
given data
assistant coach earn = $13 per hour
admission fee = $9
solution
we get here total cost of skipping practice and going to the carnival is express as
total cost = assistant coach earning + admission fee .....................1
because here he losses a hour in work and additionally spending in carnival
so now put here value in equation 1 we get
total cost = $13 + $9
total cost = $22
Answer:
Increase the consumption of product Y and decrease the consumption of product X.
Explanation:
Utility-maximizing rule states that a consumer is maximizing its utility at a point where the marginal utility per dollar spent equal for both the products.
Marginal utility per dollar for Product X:
= 2 utils per dollar
Marginal utility per dollar for Product Y:
= 8 utils per dollar
Here, the utility-maximizing rule suggests that this consumer should consume more of product Y and less of product X.
