Answer:
e. a and c
Explanation:
The law of demand states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This occurs because of the law of diminishing marginal utility.
The law of diminishing marginal utility states that the more of a commodity is consumed, the lower the utility derived from the consumption of the product.
It follows that Jorge and karissa would demand less of pencils and sweaters as their prices rise.
The demand curve is usually downward sloping to illustrate the law of demand.
Answer and Explanation:
The computation is shown below:
1. The standard cost for each one is as follows
For Direct materials, it is
= 9.6 pounds × $4.55 Per pound
= $43.68
For Direct labour, it is
= 1 hour × $15.80 per hour
= $15.8
For Variable manufacturing overhead, it is
= 1 hour × $3.40 per hour
= $3.40
For Fixed Manufacturing overhead, it is
= 1 hour × $6 per hour
= $6
2. The standard cost of one flower pot is shown below:
= $43.68 + $15.80 + $3.40 + $6
= $68.88
