This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The demand and supply curves shown below apply to a competitive market for a factor used in the ... (Read 118 times)

allywil32

  • Full Member
  • ***
  • Posts: 144
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
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by allywil32 on Oct 12, 2022

saly

  • Full Member
  • ***
  • Posts: 165
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.
Answer Preview
Only 29% of students answer this correctly


allywil32

  • Member
  • Posts: 144
Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

Missbam101

  • Member
  • Posts: 341
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Individuals are never “cured” of addictions. Instead, they learn how to manage their disease to lead healthy, balanced lives.

Did you know?

By definition, when a medication is administered intravenously, its bioavailability is 100%.

Did you know?

The word drug comes from the Dutch word droog (meaning "dry"). For centuries, most drugs came from dried plants, hence the name.

Did you know?

About one in five American adults and teenagers have had a genital herpes infection—and most of them don't know it. People with genital herpes have at least twice the risk of becoming infected with HIV if exposed to it than those people who do not have genital herpes.

Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ... Prestige can sometimes be converted into property. Shown here is “Snooki” Polizzi, a reality ...
A recently discovered fossil of a missing evolutionary link is shown on the right, and a ... A recently discovered fossil of a missing evolutionary link is shown on the right, and a ...
How to factor a trinomial using trail-and-error How to factor a trinomial using trail-and-error
Still holding the head with one hand, apply effleurage to scalene muscles with fingertips, from ... Still holding the head with one hand, apply effleurage to scalene muscles with fingertips, from ...
Stripping effleurage to shoulder as smoothing and transition technique. Apply with thumbs sliding ... Stripping effleurage to shoulder as smoothing and transition technique. Apply with thumbs sliding ...
Competitive firms and maximization Competitive firms and maximization
Video: Febrile Seizure

For a complete list of videos, visit our video library