Answer:
Option (D) is correct.
Explanation:
Perfect substitute goods are the goods which can be used in place of each other.
Perfect substitutes refers to the goods which are having identical characterstics, features and provide the exactly same level of satisfaction.
The marginal rate of substitution for these perfect substitute goods remains constant which means that the trading of one good for the another good is at a fixed rate.
The variables that can shift the supply curve are the number of sellers, production costs, and income.
<h3>What is the supply curve?</h3>
Corresponds to a graphical representation of the quantity of a product or service that is sold in relation to the increase in prices. That is, when prices rise, the supply curve will slope upward, and changes in the quantity supplied at a given price shift the curve to the right.
Therefore, supply is an economic concept to designate a market situation where there is a quantity of products and services available that consumers want to buy.
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On the off chance that the government forces a price ceiling on garbanzo beans of $8 it will come about the market equilibrium will be reached.
Market equilibrium is a state in which the market supply in the market is equivalent to the request in the market. The equilibrium price is the cost of a decent or administration when the supply of it is equivalent to the interest for it in the market.
Answer:
$6 unfavorable
Explanation:
The computation of the cost variance is shown below:
Cost variance = Standard cost - actual cost
where
Standard cost is
= $20 + 0.20 ×$26 + $40 × 0.20
= $20 + $5.2 + $8
= $33.2
And, the actual cost is $39.20
So the cost variance is
= $33.2 - $39.20
= $6 unfavorable
Since the actual cost is more than the actual cost which reflects the unfavorable variance
<span>Theories explain available phenomena based upon current evidence. These are typically set out in statements and use data and testable hypotheses as a way of backing these statements. While a hypothesis might only be used for a single concept or question, theories tend to be more broad-ranging. They are usually used to explain large concepts and groups of phenomena.</span>
