Ap Case Study Managerial Economics
Chapter 3, Question 1. Determine whether each of the following would increase or decrease the opportunity cost for mothers who choose not to work outside the home.
Higher levels of education: In today’s society, it’s possible that higher levels of education for women, will increase opportunity cost, since the women would have advantage in making a decision about continuing their education to ensure that they may obtain skills, knowledge, and abilities for the future.
Higher unemployment rates for women: Higher unemployment rates for women would increase opportunity cost for women who choose not to work outside of the home. This situation may cause women to use their skills, knowledge, and abilities at home. Yet, this factor may also depend …show more content…
Thus, the lower the price, the smaller the quantity supplied; the higher the price, the greater the quantity supplied” (p. …show more content…
What is the relationship between law of supply and the supply curve?
As an example of observation of the law of supply at work. Supplies that cost more, did come in larger quantities, and lower costing supplies were shipped in smaller quantities. Bread sticks cost more, and the store received 190 sticks per order. Nevertheless, cookies were purchased and sold at a lower price, and the corporation received 80 cookies per order. The relationship between law of supply ant the supply curve, the supply curve isolates the relation between the price of good and the quantity supplied, other things consist, such as technology, and the producers expectations (p.60).
Chapter 4, Question 4. Identify five things which could shift a supply curve to the right or left?
The five things that can ship a supply curve to the right or the left include; the state of technology, the prices of resources, the prices of other goods, producer expectations, and the number of producers in the market (p. 60).
Chapter 4, question 12. Assume the market for corn is depicted as in the table that appears below:
Price per bushel- quantity demanded- quantity supplied- surplus/shortage- will price rise or
Higher levels of education: In today’s society, it’s possible that higher levels of education for women, will increase opportunity cost, since the women would have advantage in making a decision about continuing their education to ensure that they may obtain skills, knowledge, and abilities for the future.
Higher unemployment rates for women: Higher unemployment rates for women would increase opportunity cost for women who choose not to work outside of the home. This situation may cause women to use their skills, knowledge, and abilities at home. Yet, this factor may also depend …show more content…
Thus, the lower the price, the smaller the quantity supplied; the higher the price, the greater the quantity supplied” (p. …show more content…
What is the relationship between law of supply and the supply curve?
As an example of observation of the law of supply at work. Supplies that cost more, did come in larger quantities, and lower costing supplies were shipped in smaller quantities. Bread sticks cost more, and the store received 190 sticks per order. Nevertheless, cookies were purchased and sold at a lower price, and the corporation received 80 cookies per order. The relationship between law of supply ant the supply curve, the supply curve isolates the relation between the price of good and the quantity supplied, other things consist, such as technology, and the producers expectations (p.60).
Chapter 4, Question 4. Identify five things which could shift a supply curve to the right or left?
The five things that can ship a supply curve to the right or the left include; the state of technology, the prices of resources, the prices of other goods, producer expectations, and the number of producers in the market (p. 60).
Chapter 4, question 12. Assume the market for corn is depicted as in the table that appears below:
Price per bushel- quantity demanded- quantity supplied- surplus/shortage- will price rise or