If the Demand for Softballs Increases, One Could Expect the Demand

question 193

Multiple Choice

If the demand for softballs increases, one could expect the demand for leather to increase.This is attributable to the

• A)opportunity cost of producing softballs.
• B)marginal productivity principle.
• C)reduction in the cost of production of softballs.
• D)derived demand for an input.

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Definitions:

Manufactured

The process of making products from raw materials through various procedures including cutting, shaping, assembling, and finishing.

Schedule of Cost

A detailed report summarizing the types and amounts of costs incurred by a company.

Goods Manufactured

Items that have been completed through the manufacturing process and are ready for sale.

Cost

The value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore.