<span>A situation in which quantity demanded is greater than quantity supplied best describes shortage. Shortage is when any product or service lacks the means to provide or satisfy its demand. A shortage in the product or service usually results to a price increase. On the other hand, a surplus results to a price decrease.</span>
The author of this passage that discusses the troubles farms face in covering their costs with funds from the government would most likely argue that farms rely too much on funding (specifically governmental funding), and they should attempt to make their own money if possible. Also the author would argue that government funding is often not enough and farms should attempt to raise their own funds or revenues privately.
Production possibilities curve shifted outward
Answer:
$206,080
Explanation:
Total conversion costs transferred out of the Canning Department:
= Units Completed and transferred out * Cost per equivalent unit
= 56,000 * $3.68
= $206,080
So, the total conversion costs transferred out of the Canning Department equals $206,080
