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1 year ago

Aggregate supply (as) denotes, while holding the price of inputs fixed, the that firms choose to produce and .

1 answer:

6 0

Aggregate supply (as) denotes, while holding the price of inputs fixed, the <u>price level of output</u> that firms choose to produce and <u>GDP.</u>

<h3>What is aggregate supply?</h3>

Aggregate supply is when goods and service produced or manufacture are made available to buyers or can be defined as the amount of goods produce and supply to the market at particular period of time.

Aggregate supply can tend to increase in a situation were the price of goods and services decrease or when the price of product fall.

Therefore, Aggregate supply donate, while holding the price of inputs fixed, the price level of output that firms choose to produce and Gross domestic product (GDP).

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Explanation:

Given:

Quarter FIRST SECOND THIRD FOURTH

Production in unit 48000 88000 98000 78000

Raw material per unit 3 3 3 3

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Thus,

Need for material = Production in unit × Raw material per unit

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Quarter FIRST SECOND THIRD FOURTH

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Desired ending inventory = 25% of next quarter's production needs for material

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ADD:

Desired ending inventory 66000 73500 58500

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Total need of material = Need for material in production + Desired ending inventory

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Quarter FIRST SECOND THIRD FOURTH

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Total purchase = Total need of material - Beginning inventory

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Quarter FIRST SECOND THIRD FOURTH

Total purchase = 172,000 271,500 279,000

Hence,

The answer is 271,500 pounds

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Aggregate supply (as) denotes, while holding the price of inputs fixed, the ________ that firms choose to produce and ________.

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