Answer:
c. supply of bicycles will shift to the left.
Explanation:
If the minimum wage is increased, the cost of hiring labour increases and this increases the cost of production. The increase in the cost of production makes producers reduce supply in a bid to cut down cost.
A reduction in supply leads to a leftward shift of the supply curve.
I hope my answer helps you
Answer:
A
Explanation:
usually goods are physical product created to satisfy the needs and wants of costumers while services are not physical product but actions that people do to assist other people.
<span>Oriental trading company will be more effective if it has a mechanistic structure.
According to Burns and Stalker who came up with this term, mechanistic structure involves </span><span>organizational complexity, formalization, and centralization. It is the type of structure which best fits the description given above.</span><span>
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Answer: Please refer to Explanation
Explanation:
(a) A rise in the average price of inputs
DECREASE because it is now less profitable for suppliers so they will produce less.
(b) An increase in worker productivity;
INCREASE because total cost is reduced as more goods are being produced per cost.
(c) Government antipollution regulations become stricter.
DECREASE (unless the increase in antipollution device production outweighs the decline in production caused by the increased cost of the regulations)
(d) A new subsidy program is enacted for new business investment in productive equipment.
INCREASE as the subsidy program will lower the cost of inputs so Suppliers will produce more goods.
(e) Energy prices decline.
INCREASE as there again would be Lower Input Costs thus pushing Suppliers to produce more.
