DQuestion 5 pts Sara owns a bakery and has seen a recent price decrease in the m
ID: 1163003 • Letter: D
Question
DQuestion 5 pts Sara owns a bakery and has seen a recent price decrease in the market for advanced baking ovens. If baking ovens are labor complements to bakers, what do you expect to have happen in the market for bakers? O The MRP (marginal revenue product) curve for bakers will shift to the left (downward) and Sara will hire more bakers as a result O The MRC (marginal resource cost) curve for bakers will shift to the left (downward) and Sara will hire more bakers as a result O The MRC (marginal resource cost) curve for bakers will shift to the right (upward) and Sara will hire more bakers as a result O The MRP (marginal revenue product) curve for bakers will shift to the right (upward) and Sara will hire more bakers as a result D Question 6 1 pts The main reason behind the difference in wages between a medical doctor and a waiter is O on-the job experience is more valuable to doctors than waiters O Doctors can unionize while waiters cannot O the demand for services provided by doctors is higher than the demand for services provided by waiters O resources are less mobile in the industry for doctors than for waitersExplanation / Answer
Q.5 Option 2
Because of decrease in price, the cost of production decreases which shifts the MRC to left.
Q.6 Option 3
With the limited supply and more demand for doctors service, the wages are higher for doctors
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