When <u>cost of production increase </u> business firms will supply lower quantity of output
<h3>Effect of production cost on prices </h3>
When the cost of production increases, producers will tend to produce a lesser quantity of goods and services and this is cause an increase in demand over supply in the open market.,
An increase in demand without a corresponding increase in supply will cause the supply curve to shift to the left.
Hence we can conclude that When <u>cost of production increase </u> business firms will supply lower quantity of output
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Answer:
8,000 square foot
Explanation:
Total space available 20,000 square foot.
60 percent to be used. space left?
If 60% is will be used, only 40% will be availble for construction.
40% of 20,000= 40/100x 20,000
=0.4 x 20,000
=8,000 square foot
Answer: (D) Industry convergence
Explanation:
The industry convergence is basically representing the fundamental growth in an organization and it basically helps in defining the various types of industries boundaries according to the business principle.
The industry convergence is the way for applying the knowledge by using the various types of technology related application in the industry.
According to the given question, the emergence of the smartphones industry with the different types of given application best illustrating the industry convergence concept.
Therefore, Option (D) is correct answer.
Answer:
Indirect
Direct
Iindirect
Explanation:
Direct cost is the cost that can be traced back to the cost object whereas the indirect cost cannot be traced back. Cost object is something to which the costs are assigned. in this case the cafeteria workers are directly working with the cost object:Frozen pizza plant, hence the cost is directly associated with that. Janitorial supplies and property insurance cost does not directly relate to The cost object given here so it will be classified as indirect cost.
