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Author Question: The demand and supply curves shown below apply to a competitive market for a factor used in the ... (Read 153 times)

allywil32

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on: Oct 12, 2022

The demand and supply curves shown below apply to a competitive market for a factor used in the production of widgets.



FIGURE 13-2

Refer to Figure 13-2. This factor market is in equilibrium at point B. If a technological change occurs in the production of widgets that allows for increased production from each factor, then


◦ equilibrium will move toward point C and economic rent to the initial 40 units will increase.
◦ total factor earnings will decrease and economic rent to the initial 40 units will increase.
◦ economic rents to the initial 40 units of the factor will decrease.
◦ total factor earnings will rise and economic rent to the 40th unit will be zero.
◦ equilibrium will move toward point D and the factor price will rise.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by allywil32 on Oct 12, 2022

saly

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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allywil32

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

elyse44

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Reply 3 on: Yesterday
Excellent

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