Use the figure below to answer the following questions. 
Figure 3.5.2
Original equilibrium at 1.
-Refer to Figure 3.5.2,which represents the market for beans.If the price of peas,a substitute for beans,rises,and the cost of producing beans decreases,what is the new beans equilibrium,ceteris paribus?
Definitions:
Factory Overhead Budget
An estimation of the total costs required to support the manufacturing operations, excluding direct materials and direct labor.
Production Cost Pool
is a collection of direct and indirect manufacturing costs that are assigned to products based on specific allocation criteria.
Activity Rate
A measure used in activity-based costing to allocate overhead costs to products or services, based on specific activities or cost drivers.
Machine Hour
A measure of production time, used as a basis for allocating manufacturing overhead costs to products based on machine usage.
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