Referto Exhibit 1. The economic situation is presently operating at suggest A. The possibility price of raising faxmachine manufacturing to 20,000 is
People havediffering abilities and also those through reduced opportunity expenses of creating a great create it before peoplevia better opportunity expenses develop it.
You are watching: The physical and mental talents people bring to production processes comprise the resource called
Whichscenario listed below the majority of accurately defines the procedure by which a technological readjust have the right to affectemployment patterns across industries?
A technological breakthrough makes it possible to develop more ofexcellent X through less labor. As a result, labor is released from creating good X. Several of this labor endsup developing products Y and Z.
A technological advance renders it possible to produce less ofexcellent X with much less labor. As an outcome, labor is released from creating great X. Some of this labor endsup producing good Y.
A technical development makes it feasible to develop more ofgood X via more labor. As an outcome, more labor is needed to produce great X. Tright here is less laborobtainable to produce products Y and Z.
A technical breakthrough provides it possible to produce more ofgood X with less labor. As a result, labor becomes more necessary to the manufacturing of good X. Morelabor ends up developing great X.
Inthe "Circular Flow Model of Economic Activity," the question of to whomoutput will be dispersed is answered
In aneight-hour day, Andy can produce either 24 loaves of breview or 8 pounds of butter. In an eight-hourday, John deserve to produce either 8 loaves of bread or 8 pounds of butter. The chance cost ofdeveloping 1 pound of butter is
Referto Exhilittle bit 2. Which of the graphs finest represents the sector for theater tickets on the day of theperformance?
a fall in the price of computer systems will boost the demand forsoftware application and also, ceteris paribus, the price of software application will climb.
a increase in theprice of computer systems will certainly decrease the demand for software program and, ceteris paribus, the price ofsoftware program will certainly climb.
a loss in the price of computer systems will certainly decrease the demand forsoftware program and also, ceteris paribus, the price of software application will loss.
a increase in theprice of software will rise the demand for computers and, ceteris paribus, the price ofcomputer systems will certainly rise.
a autumn in the price of software will decrease the demand also forcomputers and, ceteris paribus, the price of computers will certainly autumn.
Someone says, "Even though the equilibrium wage rate is $6 an hour in theunexpert labor industry, if we impose a minimum wage of $10 an hour, no one currently functioning willlose his or her project." This perboy need to believe that the
If rent controls for apartments were establiburned in Austin listed below the presentgoing rental rates, we can expect
Ifthe price of good X rises and the demand for good X is inelastic, then the percentage loss inamount demanded is _________ the percent rise in price, and total revenue_________.
Ifthe price of good A decreases by 10 percent and also the quantity demanded of excellent B decreases by 10percent, this is proof that A and also B are
As the amount of an excellent consumed rises, the additionalsatisfactivity gained from consuming extra devices tends to decrease.
As the amount ofa good consumed decreases, the extra satisfactivity obtained from consuming extra units tendsto increase.
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As the amount of an excellent consumed boosts, the sum ofsatisfactivity got often tends to boost however at a diminishing price.