The cost of making a new skirt is $20. At a price of $15, consumers will demand 600 skirts, and producers will skirts.

History

2 answers:

mixas84 [53]2 years ago

6 0

Producers will not produce any skirts.

In economic theory, the relations of production and consumption are associated with stimuli, tastes and needs.

Every consumer has a reserve price, that is, a maximum limit to which he or she is willing to pay. If the price is above the reserve price, the consumer does not buy. If the price is below, he or she demands.

In the case of the producer, the supply depends on the price at which it is sold and its cost. The cost of producing an additional unit is called the marginal cost. The producer shall have produced if the price is at least equal to the marginal cost.

As the marginal cost of the skirt is $ 20 and the sale price is $ 15, there will be no production because the producer would incur in loss.

insens350 [35]2 years ago

5 0

The producers wll not supply skirts because it costs more to make them then it does to sell them

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Heilbrunn Timeline of Art History

CHRONOLOGY

Japan, 1800–1900 A.D.

Overview

In the nineteenth century, Japan experiences a dramatic shift from the conservative, isolationist policies of the shōgun-dominated

Edo period

to the rapid and widespread drive to modernize and engage with the rest of the world that characterizes the Meiji Restoration. During the first half of the century, decades of fiscal and social disruption caused by the growth of a market economy and a complex monetary system in a country that is still officially based on agriculture, which supports both the farming and privileged but unproductive

samurai classes

, continues to weaken the country in general and the

Tokugawa regime

in particular. Increasingly aggressive intrusions by Western powers not only puts pressure on Japan but convinces its political leaders that the Seclusion Policy has limited the country’s participation in technological advances and worldwide changes and also handicapped the economy by restricting its involvement in global trade. Taking advantage of the disruption caused by these internal and external crises, in 1867 several powerful daimyo (regional warlords) band together and overthrow Shōgun Yoshinobu (1837–1913), forcing him to resign authority. Marching into the imperial capital Kyoto, they “restore” Emperor Mutsuhito (1852–1912) to power and establish the Meiji (“enlightened rule”) Restoration.

In the name of Emperor Meiji, numerous striking and far-reaching social, political, and economic changes are legislated through a series of edicts. Japan also opens its borders, sending several high-ranking expeditions abroad and inviting foreign advisors—including educators, engineers, architects, painters, and scientists—to assist the Japanese in rapidly absorbing modern technology and Western knowledge. Throughout the century, however, the drive to Westernize is paralleled by continued isolationist tendencies and a desire to resist foreign influences. Eventually, as has happened numerous times in the nation’s history, after the Japanese assimilate what has been borrowed, they use these imports to formulate a new but distinctly Japanese modern society.

Citation

MAP

Encompasses present-day Japan

PRIMARY CHRONOLOGYJapan, 1800–1900 A.D.

SECONDARY CHRONOLOGY

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