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6. Suppose price of wine is $50 per bottle and the price of laptops is $1000. Now, in the next year price of wine increases
6. Suppose price of wine is $50 per bottle and the price of laptops is $1000. Now, in the next year price of wine increases to $75 per bottle and the price of laptops increases to $1250 per laptop. What happens to the amount of labor working in wine industry (Lwine) and the amount of wine (Owing) produced? a) Lwine decreases and mee decreases mee increases but Qwine decreases c) Lwine decreases but Qwine increases mee increases and Owing increases 7. Continue with question 6: What happens to the ratio of prots of wine makers (land owners) and laptop manufacturers (capital owners)? Also, what happens to wage? a) The ratio increases and wage increases by more than 20% b) The ratio decreases and wage increases by more than 20% c) The ratio increases and wage increases by less than 20% d) The ratio decreases and wage increases by less than 20%
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