1. Question : (TCO A) There is a decrease in the cost of labor for producing bicycles. (4 pts.) What happens to bicycle supply? (6 pts.) What happens to bicycle demand? Student Answer: When there is an increase in the price of labor for making bicycles the supply would decrease because it would cost more to make the bikes and the supply curve would shift to the left. There would be no change in the demand for the bicycles. Instructor Explanation: Since a change in costs to produce the
Premium Supply and demand Price elasticity of demand
Answers to Chapter 3 Exercises 3.1. DRAM factory. You own and operate a facility located in Taiwan that manufactures 64-megabit dynamic random-access memory chips (DRAMs) for personal computers (PCs). One year ago you acquired the land for this facility for $2 million‚ and used $3 million of your own money to finance the plant and equipment needed for DRAM manufacturing. Your facility has a maximum capacity of 10 million chips per year. Your cost of funds is 10% per year for either borrowing
Premium Supply and demand Marginal cost
For a firm to shut down in the short run‚ the average variable cost can avoid paying by shutting down exceed the price it would get for selling the good (Colander‚ pg. 328). At a certain point to continue producing and selling goods would get higher than the fixed costs of not producing the goods or service. As the text mentions‚ automakers will continue to produce at a loss because the labor is a fixed cost due to union agreements. These agreements state that the workers will get paid if they are
Premium Costs Variable cost Management accounting
Part 1 of 3 - 100.0/ 100.0 Points Question 1 of 16 10.0/ 10.0 Points Demand is price inelastic if: A.the price of the good responds slightly to a quantity change. B.the demand curve shifts very little when a demand shifter changes. Correct C.the percentage change in quantity demanded is relatively small in response to a relatively large percentage change in price. D.all of the above are true. Answer Key: C Question 2 of 16 10.0/ 10.0 Points If the absolute value of price elasticity
Premium Supply and demand Elasticity
all the data that was needed for the question such as the amount of cat food being sold‚ the amount of cats that were in Australia and so forth‚ however‚ I did not know how my peers on the DB were going to perceive my answer and what point that was going to come across from my answer. The part that made me so nervous was choosing which graph would be appropriate for the data that I collected. My strengths in statistics was collecting the data. I enjoyed researching various area for instance cats
Premium Education Teacher School
double in value next year. Less because its expected return relative to other investments has reduced d. You expect housing prices to fall. Less because its expected return has fallen. 3. “The more risk-averse people are‚ the more likely they are to diversify.” Is this statement true‚ false or uncertain? Explain your answer. True‚ because the benefits to diversification are greater for a person who cares more about reducing risk. 4. I own a professional football team‚ and I plan to diversify in either
Premium Bond Supply and demand Bonds
information about the intensity of the emotion. Student Answer: Heart Clothes CORRECT Face Height Instructor Explanation: The answer can be found in Section 5.3 of Making Connections. Points Received: 1 of 1 Comments: Question 2. Question : ________________ is the specialized or technical language of a specific group or profession that may not be understood by outsiders. Student Answer: Formal language Informal language CORRECT Jargon
Premium Communication Dialect Language
relationship between machine hours and power cost? 2. Using the high and low points‚ compute a power cost formula. 3. Use the method of least squares to compute a power cost formula. Evaluate the coefficient of determination. 4. Rerun the regression‚ and drop the point (20‚000‚ $26‚000) as an outlier. Compare the results from this regression to those for the regression in Requirement 3. Which is better? SOLUTION: 1. [pic] The overall relationship looks reasonably linear—although the
Premium Costs Regression analysis Polynomial
Week 3 Assignment Daniel Farella HUM/115 10/13/2014 Allison Mintz-Goldstein Week 3 Assignment The 2 articles I had chosen are on Blackfish and Sea World. The first title is called SeaWorld Questions Ethics of ‘Blackfish’ Investigator. I always thought that there was no doubt in my mind that Sea World was a good place that was until the movie Blackfish came out. This first article is about questioning the ethics that the investigator used to gain his insight on the killer whales that he used
Premium English-language films Critical thinking Marine mammal park
purpose for which it exists and that the lot owners’ enjoyment and access of the common property is unimpeded. The statutory duty to repair and maintain common property is absolute and includes a duty to take preventative measures‚ ensuring a problem does not arise in the future. Hence‚ this duty preserves the ‘integrity of the physical structure of common property’. Prima Facie‚ the pool heater forms part of the physical structure of the common property due its location on the third floor
Premium Property Law Pleading