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The development of a specialised robot to shear sheep allows much more efficient and cheaper shearing, resulting in more wool produced in a shorter time
The development of a specialised robot to shear sheep allows much more efficient and cheaper shearing, resulting in more wool produced in a shorter time frame. Answer the following questions: What effect will the development of this specialised robot have on the supply of wool? R . Type U for unknown, L for shift left, R for shift right, N for no effect. Consider the Australian Government implements a tax on wool in an effort to reduce animal products. If this brings about a shift for wool that is smaller in magnitude than the shift from the increased wool production from using the specialised robot (ceteris paribus), how would the equilibrium quantity of wool compare to before introducing both the tax and the specialised robot? H . Type L for lower, H for higher, N for no change, U for unknown and need more information. If existing suppliers of wool expect wool prices will fall for the next three years, what impact would this be expected to have on the current supply? I . Type N for no effect at all, I for increase supply, D for decrease supply, U for unknown and need more information
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