Applying the Law of Supply
Quick
Check
Read the scenario, then answer the question.
A factory produces blue and green widgets at equal
production costs. In one day, the factory can make 20
widgets of either color. The factory has been making 10
blue and 10 green widgets per viay because both sell for
$5. Recently, the price of blue widgets has increased from
$5 each to $8 each.
How should the factory respond to the increase in price
of blue widgets?
O by decreasing the number of blue widgets produced
O by increasing the number of blue widgets produced
O by increasing the number of green widgets
produced
O by not changing the number of blue widgets
produced
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Applying the Law of Supply Quick Check Read the scenario, then answer the question. A factory produces blue and green widgets at equal ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Which of the following could you set up as a monthly withdrawal from your bank account? a. loan payment b. withholding c. variable expense d. tax deduction
Answers (1)
Given the following information, determine net income. The capital balance on January 1, 2016, equals $25,000; investments and withdrawals during 2016 total $53,000 and $28,350, respectively;
Answers (1)
Crystal is teaching a newly promoted supervisor how to use the company's performance management system. The supervisor asks Crystal when he is supposed to give employees performance feedback.
Answers (1)
The federal government often spends more money than it takes in each year. it then borrows money to make up the difference. what is this called
Answers (1)
A restaurant chain is working on improving the quality of its food and service. To track its progress it recruits customers who agree to respond to customer satisfaction surveys once every three months over the next two years.
Answers (1)
New Questions in Business
Fixed expenses: a. includes labor, raw materials, and commissions. b. can be estimated by taking into consideration the production. c. are incurred regardless of sales volume. d. must be linked to strategy in the business plan
Answers (1)
4) Which of the following is least likely to be your primary health care provider? a. an allergist b. an internist c. an obstetrician-gynecologist
Answers (1)
T/F A macroeconomist would be concerned with the following statement. "Two major hurricanes caused significant damage to the eastern seaboard and led to a fall in GDP and a rise in unemployment in the U. S. economy."
Answers (1)
At the beginning of the year, Mitchum Enterprises allows for estimated uncollectible accounts of $14,000. By the end ofthe year, actual bad debts total $15,000. Record the write-off to uncollectible accounts.
Answers (1)
Landor Appliance Corporation makes and sells electric fans. Each fan regularly sells for $40. The following cost data per fan is based on a full capacity of 155,000 fans produced each period.
Answers (1)