Answer:
High demand
Low supply
High prices
Explanation:
The demand and supply of products, goods and services is heavily dependent on several factors ranging from economic, health and social factors. Disease and viral outbreaks have devastating effects on the market forces of demand and supply which in most cases will impact the market negatively with characteristically high prices and scarcity of products. The mouth and hoof outbreak in Europe was one which impacted the economy including farmers, leather and hides workers and all whose businesses and sustainability depends on cattles and its products. Due to the contagious nature of the disease and the ease at which it could spread if curtailment isn't effected on time, millions of cattles were slaughtered on sighting the symptoms and it's products including skins are burnt leading to losses in billions on the path of cattle rearers, shortage of lather, hides and skins, restriction in international product trade in other to avoid its spread to other parts of the world. These resulted in low supply and high demand of cattles and its products including leather goods meaning High prices for little available.
<span>A demand curve shows how changes in quantity affect price. The demand curve is a graph that will have a good or service and how the quantity purchased is related to the price point the item is set at. Overall, the relationship between demand and price are directly related and depicted on the graph. </span>
Answer:
Allocated overhead= $266.66
Explanation:
The fixed machine cost would be allocated using an overhead absorption rate
OAR = Budgeted overhead for the period /Budgeted copies
= 2000/30,000
= $0.0667 per copy
Allocated overhead = OAR × actual copies produced
Allocated Overhead for Accounting department
= $0.0667 × 4,000
= $266.66
