Liberty bicycles makes three models of bike: the freedom, the independence, and the patriot. condensed income statement data related to the three models are as follows: if liberty stops making the patriot, only $70,000 of the fixed costs associated with this model would be eliminated. given these data, what would happen if liberty stops manufacturing the patriot? (a) its yearly net income will increase by $35,000.(b) its yearly net income will decrease by $65,000(c) its yearly net income will decrease by $30,000.(d) its yearly net income will increase by $70,000.

technology is the application of knowledge and tools to solve problems and perform tasks more efficiently. t/f

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a. what is the firm’s labor demand function? b. if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c. now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. true or false