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A state program has increased the availability of vocational education opportunities for welders. As such, the welding workforce is
expected to be far more educated in the skills and concepts pertaining to its job within the next year. At the same time, the price of
welding tools has recently increased. What is the anticipated impact on the supply of welding?

Respuesta :

kmprather04

Answer: It is impossible to tell.

Explanation: The increases price of welding tools is an increase in input costs for production that results in a decrease in supply. The improvement in education and skills of welders will likely increase productivity and subsequently increase supply. Give the counteracting effects on the supply of welding, it is impossible to tell what the impact on the supply of welding will be without further information.

The anticipated impact on the supply of welding is likely to decrease.

  • According to the given situation, if vocational education is provided to the welding workforce then the welding workforce will become educated and more skilled professionals.
  • The increase in price of the welding tools will decrease the supply of the welding because the state program may not be able to afford many tools for the purpose of welding. This will cause a decrease in the overall supply of the welding.
  • Moreover, the skilled and educated labor will raise their labor cost so the state program could hire few labors in order to manage the overall cost of welding this will lead to decrease in supply of welding.

Hence, due to lower number of labors and less number of tools available for welding the anticipated impact on the supply of welding will decrease.

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