A Low Factor- Utilization Rate Describes _ in Factor Markets

question 20

Multiple Choice

A low factor- utilization rate describes _ in factor markets, which causes factor prices to and shifts the aggregate supply curve to the .

• A)excess supply; fall; left
• B)excess supply; rise; right
• C)excess demand; fall; right
• D)excess demand; rise; right
• E)excess supply; fall; right

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Definitions:

Work In Process Inventory

Goods that are in the production process but are not yet completed.

Cost System

The method used by a company to account for and allocate its costs.

Processing Department

A unit within a manufacturing facility where a specific type of processing or assembly of products occurs, often tracked in process costing systems.

Total Cost Transferred

The cumulative cost relocated from one department to another or from production to finished goods inventory.