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QUESTION 12 10 points Save Answer Consider the following simple supply schedule for inflatable backyard swimming pools: Price per Swimming Pool Quantity of Swimming Pool
QUESTION 12 10 points Save Answer Consider the following simple supply schedule for inflatable backyard swimming pools: Price per Swimming Pool Quantity of Swimming Pool Supplied $25 10 $30 ?? $35 20 1. State the law of supply in the context of the market for sweatshirts 2. What is one possible value for the quantity supplied at $30 that would be consistent with the law of supply? 3. Provide an example of one event that would cause the quantity of swimming pools supplied to fall. 4. Provide an example of one event that would cause a rightward shift in the supply for swimming pools 5. Provide an example of one event that would cause a leftward shift in the supply for swimming pools. Please make this a different scenario than parts 3 and 4. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) B I Y S Paragraph v Open Sans,sa... 10pt RBE V V ... O WORDS POWERED BY TINY QUESTION 13 4 points Save Answer Olivia and Tara are sisters, whose parents require them to do four hours of household chores per week. Both children can perform two chores: walking the family dog and watering the household plants. The following describe each child's productivity. Production per Hour of Work Child # of Dog Walks. # of Plants Watered Olivia 3 9 Tara 2 14 Please answer each of the following questions, indicating the question numbers in your answer: Which child, if any, has absolute advantage in dog walks? Which child if any has absolute advantage in watering plants? (Olivia, Tara, Both, Neither) has absolute advantage in dog walks; (Olivia, Tara, Both, Neither) has absolute advantage in watering plants. QUESTION 14 2 points Save Answer Economists make use of assumptions, some of which are unrealistic, for the purpose of O a. teaching economics to people who have never before studied economics. b. developing models when the scientific method cannot be used. c. advancing their political agendas. O d. focusing their thinking
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