Answer to Question #319211 in Macroeconomics for mi yu

Question

 What happens to the airline industry’s market supply curve as a result of the following events? 

a) There is an increase in the price of oil; 

b) Airline workers demand and receive a 20% increase in their wage; 

c) Pratt & Whitney develops an airplane engine that is 50% more fuel-efficient; 

d) U.S manufacturers of airplanes are subsidized by the U.S. government. 

Answer 1

a) shifts to the left; b) shifts to the left; c) shifts to the right; d) shifts to the right