Explain the impact each of the following would have on-demand or supply and how wage and...

Explain the impact each of the following would have on-demand or supply and how wage and employment have changed in a given occupation. 6 MARKS

a) A fall in the danger of the occupation

b) Increased wages in alternative occupations

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Rahul Sunny answered 9 months ago

a. Using appropriate demand and supply diagrams in each of the following cases explain the impact...

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a) Using diagrams and supply and demand concept, carefully explain the impact of each of the...

a) Using diagrams and supply and demand concept, carefully explain the impact of each of the following on equilibrium price and quantity of certain products. i) Simultaneous decrease in price of raw material and decrease in income for a normal good (other things being equal). ii) Simultaneous increase in business taxes and an increase in consumer income for a normal good (other things being equal).

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How would you use the theory of Demand and Supply to explain something that you have observed about the world? Your answer needs to provide at least three paragraphs. The first paragraph identifies and explains in your own words the observation of the world. The second paragraph identifies the supplier and consumers in your observation. The third paragraph explains how the supply and demand changed to explain the event in the world.

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Explain the impact each of the following would have on-demand or supply and how wage and...

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