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ASHA 777 [7]
3 years ago
12

Assume that the demand for bicycles increases significantly at the same time that there is an increase in the number of people q

ualified to make bicycles. What would happen to the market equilibrium quantity of labor and wage rate for the labor to produce bicycles
Business
1 answer:
yarga [219]3 years ago
6 0

Answer: The quantity of labor increases, and the effect on the wage rate is indeterminate.

Explanation:

The supply of people who can make bicycles has increased at the same time the demand for bicycles has increased. The supply curve would therefore shift to the right and so would the demand curve for labor. They will intersect at a new point where the quantity of labor has now increased.

Unfortunately, the effect on the wag rate would be indeterminate because the wage rate might just stay the same on account of the supply increasing along with the demand instead of either of them increasing unilaterally. When tis happens, the change is said to be indeterminate.

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Diano4ka-milaya [45]

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Explanation:

The investigation was unable to determine the cause of the fire. While this does not clear any party, it does not lay the blame on any party either.

In such a case the financial responsibility will fall on the company operating the transport company which in this case is Jack Palace who is the owner of the ship.

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3 years ago
Which of the following statements is ​false?
MArishka [77]

Answer:

A. A society that wants more in the future should consume more of its capital today. 

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For an economy to advance, the country must be willing to consume less now and save and invest in factors that would lead to economic growth.

I hope my answer helps you

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aalyn [17]

Answer:

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-Plan an agenda to handle the call to know what you need to discuss.

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