Answer:
3. indicates the quantity demanded at each price in a series of prices.
Explanation:
The demand for a product can be described as the quantity that buyers are willing and able to buys at a given price or different prices. As per the law of demand, an indirect relationship exists between the price and demand for a product. This relationship can be expressed in a graph format known as a demand curve or as a table format known as the demand schedule.
A demand curve is downward sloping. It demonstrates how demand varies at different prices. A change in price cause movement along the demand curve. Low price results in high demand, while high prices result in low demand.
Answer:
A) a 23.5% decrease in materials
B) a 64% decrease in labor costs
C) a 29.1% decrease in overhead
Explanation:
White Tiger's multifactor productivity = $300 / $148 = 2.027
if we want to increase the multifactor productivity by 12%, it will = 2.27
since we will not change the sales price, we must determine the new total cost:
$300 / cost = 2.27
cost = $300 / 2.27 = $132.16 ≈ $132, which represents a $16 decrease
A) materials ⇒ $16/$68 = 23.5%
B) labor costs ⇒ $16/$25 = 64%
C) overhead ⇒ $16/$55 = 29.1%
A non-linear production is also known as a bending producing model. A non-linear production possibilities model estimates what amount of something can be produced using the economy's current resources and technology to make the predictions.
