Answer: Marginal Cost curve will shift downward
Explanation:
In a situation whereby technological advance brings about a reduction in the amount of variable resources that are needed for the production of any level of output, then there will be a downward shift of the marginal cost curve.
Answer:
The direct materials cost variance is $25,900 unfavorable
Explanation:
The formula to compute the direct materials cost variance is shown below:
Direct material cost variance = Standard cost - Actual cost
where,
Standard cost = Number of pounds used for direct material × direct material pound per unit
= 7,000 pounds × $11
= $77,000
And, the actual total material cost is $102,900
Now put these values to the above formula
So, the value would equal to
= $77,000 - $102,900
= $25,900 unfavorable
Answer:
A decrease in both the market equilibrium price and the market equilibrium quantity of autos sold.
Explanation:
A fall in the demand for automobiles would shift the demand curve to the left.
As a result of the leftward shift, both equilibrium price and quantity would fall.
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