Liasner, a heavy machine manufacturer, recently introduced a new lathe machine that consumes lesser electricity than conventional lathe machines. Since baseball bats are produced using lathe machines, which of the following will be an impact of Liasner's machine on the supply of baseball bats?
a. The quantity supplied of baseball bats will increase.
b. The quantity supplied of baseball bats

To achieve gains from trade, a country

A) needs to have an absolute advantage in the production of all goods. B) specializes in the producing a good in which it has a lower opportunity cost. C) must produce at a point beyond its PPF. D) needs to have an absolute advantage in the production of at least one good. E) should produce at the midpoint of its PPF.

Consider the above figure, which displays the situation faced by a union employed by a firm with the labor demand curve D

This union has total membership of Q3 workers, but its single wage setting goal is to maximize wages for the Q1 members with the most seniority. If the union managers accomplish this goal, what occurs? A) All of the union members will be employed at the wage rate W3. B) All of the union members will be employed at the wage rate W1. C) The senior members of the union will receive a wage equal to W3, but Q3 union members will be unemployed. D) The select group of senior union members will have work and receive a wage of W3, but Q3 -Q1 union members will not be employed by the firm.