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on Thursday, November 20th, 2008 at 10:20 am and is filed under Low Cholesterol Diet.
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Personal computers:
Cost of inputs falls, cost of production falls, supply curve moves down/right, correct.
More user friendly software becomes available, more people want to use PCs at every price, so demand moves right/up.
Quantity traded rises, but effect on price depends on which moves more.
Hospital services.
The key is what is the % increase in wages? If it’s 4% then you pay more but get proportionately more, cost per unit is unchanged, supply curve does not move. But if wage increase is more than increase in productivity, costs go up, and supply curve moves up/left and prices increase while quantity traded falls.
Lift tickets:
Incerased interest in skiing means demand rised, demand curve moves right.
Higher cost of energy, supply moves left/up as it costs more to operate the machines (unless you are saying the fuel cost is a fixed cost, not a variable cost).
Price definitely goes up, but effect on quantity depends on which moves more, demand or supply.
November 20th, 2008 at 6:47 pm
wilgor
Personal computers:
Cost of inputs falls, cost of production falls, supply curve moves down/right, correct.
More user friendly software becomes available, more people want to use PCs at every price, so demand moves right/up.
Quantity traded rises, but effect on price depends on which moves more.
Hospital services.
The key is what is the % increase in wages? If it’s 4% then you pay more but get proportionately more, cost per unit is unchanged, supply curve does not move. But if wage increase is more than increase in productivity, costs go up, and supply curve moves up/left and prices increase while quantity traded falls.
Lift tickets:
Incerased interest in skiing means demand rised, demand curve moves right.
Higher cost of energy, supply moves left/up as it costs more to operate the machines (unless you are saying the fuel cost is a fixed cost, not a variable cost).
Price definitely goes up, but effect on quantity depends on which moves more, demand or supply.
One family housing:
exactly as you said.
Eggs:
exactly as you said.
MIS experts:
exactly as you said.