MindTap . Cengage Lear. Secure | https//ng.cengage.com/static/nb/ui/evo/index.ht
ID: 1136071 • Letter: M
Question
MindTap . Cengage Lear. Secure | https//ng.cengage.com/static/nb/ui/evo/index.htm?deploymentld-58122223245127110979496973468eISBN-9781 , MINDTAP ck to Assignment ttempts: 10. A change in supply versus a change in quantity supplied he following calculator shows the supply curve for sedans in an imaginary market. For simplicity, assume that all sedans can fasten bolts, or robot speed-and the wage rate that auto manufacturers must pay their employees Insitilly, the graph shows the supply curve Keep the Highest:/2 are identical and sell for the factors that affect the supply of sedans are the level of technical knowledge-in this case, the speed with which manufacturing robots when robots can fasten 2,50o bolts per hour and autoworkers earn $25 per hour graph in ut tool to help you answer the following questions. You wnd not be graded on any changes you make to this graph. e: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly Graph Input Tool Supply for Sedans Price of a Sedan Sut ply antity Supplied per month 2Explanation / Answer
(1) When price increases to $26,000, this would cause the quantity supplied of sedan cars to increase, which is reflected in a movement along supply curve.
(2) Following a technological decline, there is a leftward shift of supply curve because technological decline makes cars more expensive to build (causing a decrease in supply).