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Qtest - Test Management Tool

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Added on  2021-06-17

Qtest - Test Management Tool

   Added on 2021-06-17

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Running head: QTESTQtestName of the student:Name of the University:
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QTESTTable of ContentsQuestion 1........................................................................................................................................3Part a)...........................................................................................................................................3Part b)...........................................................................................................................................3Part c)...........................................................................................................................................3Part d)...........................................................................................................................................3Question 2........................................................................................................................................3Question 3........................................................................................................................................4Question 5........................................................................................................................................5Part a)...........................................................................................................................................5Part b)...........................................................................................................................................6Part c) Price Flooring...................................................................................................................6Part d) Price Ceiling.....................................................................................................................7Question 7........................................................................................................................................8
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QTESTQuestion 1Part a)Once the technology improves the output, it has been caused by the research and developmentchange because of new technologies. This can take place because of increase in opportunity costwhich can be further explained that with an increase in the production of one product happens atthe expense of other. As a result, the unattainable points at PPF would move towards the point onthe PPF, making it attainable in the economy.Part b)Labor performance is one of the fixed resources that affect the output. If here is illness, then lesslabor would constitute to production level which will further create inefficiency. This will leadto increasing opportunity costs because they are not suited for producing one good to other. Alabor intensive product cannot be possibly replaced for a capital intensive product as the outputis not put to its best alternative use. The PPF might shift inwards to the left with capital to laborraised with the shrinkage.Part c)If an economy approves, then it might include changes in amount of resources whether it isnatural resources, factories, etc. or through research and development. This will bring an outwardshift in the PPF.Part d) In case of a war, there is great impact on the capital intensive as a result, the production capacityof the economy is reduced and it will shift the PPF curve to the left bringing it to the unattainablepoint of output.Question 2As per the scenario, once the fuel prices of a car / plane prices drops, the price falls from theequilibrium E at price P0 to P1. The price falls at P1, making a shift in the supply curvehighlighting the increase in fuel quantity. However, to restrict the supply, the supply falls from
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