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Unformatted text preview: ths than it is
today. She is thinking about not selling her current
oil supply until the oil price goes up. She knows she
will lose the interest on the oil revenue she would
have if she sold the oil now, but thinks that the
higher price in three months might more than compensate for lost interest.
• Would you advise Angie to wait until later to
sell her oil? 2:38 P.M. Frank and Pete are having coffee
at their local Starbuck’s. Frank owns a construction
company, and Pete is his business manager. Frank
says, “I’m not sure how many more people will want
to work for us if we pay a higher wage. No matter
how much money we offer, people just don’t want to
work in construction the way they once did.” Pete just
says, “I don’t know. Money is a powerful motivator.”
• Will more people want to work in the construction
industry if Frank increases the wage rate (dollars per
hour) he pays his employees? 111 05 (110-127) EMC Chap 05 11/17/05 4:51 PM Page 112 Focus Questions Understanding
Supply What is sup...
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This document was uploaded on 01/16/2014.
- Winter '14