Answer:
Decrease in Supply ; Increase in Price
Explanation:
Complements in Production are goods which are produced jointly using a given resource. Eg : Beef , leather belts & wheat , straw.
Law of Supply states that Price of a good & its supply are directly related. Price & supply of complements in production are also directly related.
If price of a good rises, supply of the good & its complement(s) in production rise. If price of a good falls, supply of the good & its complement(s) in production fall.
So: Leftwards shift in demand curve of beef, i.e decrease in demand of beef- will create excess supply of beef. Excess supply will create competition among sellers & reduce its price.
As beef & leather belt are complements in production : Decrease in price of beef will reduce the supply of leather belts. This decreased supply (leftwards shift) will create excess demand in leather belt markets & competition among buyers increase their price.
Answer:
maintaining company employee contact information
Answer:
85.71%
Explanation:
The computation of the utilization rate is shown below:
Utilization rate = (Actual output ÷ Desired output) × 100
where,
Actual output = 6,000 hammers
Desired output = 7,000 hammers
So, the utilization rate is
= (6,000 hammers ÷ 7,000 hammers) × 100
= 85.71%
By dividing the actual output by the desired output we can get the utilization rate
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