It is a graph that shows the relationship between the quantity demanded of a commodity at different prices over a given period of time. It is observed that the demand curve slopes downward from left to right. It shows it has a negative slope which implies that consumers purchase more of commodity at lower prices than at higher prices.
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Answer:
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Explanation:
Is there an option tho?
Answer:
Explanation:
1. To find the cost per unit of production, first we find the total cost. So we multiply the unit of each factor used times its cost.
capital: 2*$10=$20
raw materials: 5*$4=$20
labour: 8*$3=$24
Total cost: $20+$20+$24=$64
Then we divide the total cost over the total units produced:
Cost per unit: $64/640=$0,1 Answer is B
2. If the cost per unit of raw materials increases from $4 to 8$. Then the total cost of production will be:
capital: 2*$10=$20
raw materials: 5*$8=$40
labour: 8*$3=$24
Total cost: $20+$40+$24=$84
To find how much the cost per unit will rise, to find how much it rises
64$→100%
$84←x
x=($84*100%)/$64=131.2%
131.2%-100=31.2%. The answer is B
3. Because there is a change in raw materials, then there would be changes in the supply demand. In this case, the total cost and the cost per unit increased, then it is a negative shock to the supply demand. This is represented as a shift to the left. The answer is D
