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3 years ago

A simple supply curve shows that an increase in the price of a good will cause the quantity supplied to:

Business

1 answer:

Sati [7]3 years ago

5 0

Answer:

This question is incomplete, the options are missing. The options are the following:

a) Decrease.

b) Increase.

c) Remain constant.

d) Fluctuate randomly around its equilibrium value.

And the correct answer is the option B: Increase.

Explanation:

To begin with, in the microeconomics theory the supply curve is known for being the one who shows what quantity will be supplied by the offerents given a particular amount of price that is already establish by the interaction between the forces of the market given a perfect competitive market as an example. So in that graphic the supply curve will always have a positive slope and that is due to the law of supply that establishes that there is a direct relationship between the price a good and its supply, so that means that if the price a good increases its quantity supplied will increase as well with it.

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Consider the market for labor depicted by the demand and supply curves that follow. Use the calculator to help you answer the fo

vekshin1

Answer:

Suppose a senator considers introducing a bill to legislate a minimum hourly wage of $12.50.

Wage Labor Demanded Labor Supplied

$12.50 375,000 625,000

This will result in a surplus of labor (625,000 higher than 375,000)

Which of the following statements are true?

Binding minimum wages cause structural unemployment. As with all price floors, a deadweight loss results, because the quantity supplied is much greater than the quantity demanded. In this case, the price of labor is the wage, and the deadweight loss = structural unemployment
In the absence of price controls, a surplus puts downward pressure on wages until they fall to the equilibrium. Since a labor surplus exists, the price of labor should start to decrease in order to match the equilibrium price.
If the minimum wage is set at $12.50, the market will not reach equilibrium. The quantity supplied of labor is much greater than the quantity demanded for labor resulting in a surplus.

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4 years ago

9. The cost of producing one more unit of a good is known as a(n) (1) Fixed cost. (2) Variable cost. (3) Operating cost. (4) Mar

miskamm [114]

Answer:

Marginal cost.

Explanation:

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3 years ago

About how many federal law enforcement offices ate employed in the United States

koban [17]

Answer:

Approximately 18,000

Explanation:

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3 years ago

Read 2 more answers

Qu. 13-95 (Algo) Two products, QI and VH, emerge from a joint process... Two products, QI and VH, emerge from a joint process. P

Andrews [41]

Answer and Explanation:

The computation of the financial advantage or disadvantage is as follows:

<u>Particulars Product Q1 </u>

Selling price after further processing 13.00

Selling price at split off point 11.00

Incremental revenue per pound or gallon 2.00

Total production 2,200.00

Total Incremental Revenue 4,400.00

Total Incremental Processing costs 10,200.00

Total Incremental profit or loss (5,800.00)

Since there is an incremental loss so the same would be Sold at split off

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3 years ago

Socioeconomic market segmentation is another name for _____ segmentation.

Advocard [28]

I think the correct answer would be demographic segmentation. It is a type of market segmentation where the consumers are classified according to race, religion, family, gender and/or income. It is a way to help an organization target specific consumers.

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3 years ago