In situations where new technologies are considered complementary to workers, demand for these workers will ________, resulting in ________ in the equilibrium wage
A) decrease; a decrease B) increase; a decrease
C) increase; an increase D) decrease; an increase
C
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Maria helps tutor students taking economics. The equilibrium price for tutoring is $15 per hour
Maria has determined her opportunity cost per hour to be $6 for the first, $9 for the second, $12 for the third, $15 for the fourth, and $18 for the fifth. How many hours will Maria tutor? Why this amount of hours? What, if any, is Maria's producer surplus?
Suppose that Amanda receives a pay increase. We would expect
a. to observe Amanda moving down and to the right along her given demand curve. b. Amanda's demand for inferior goods to decrease. c. Amanda's demand for each of two goods that are complements to increase. d. Amanda's demand for normal goods to decrease.