Autumn Fair Sells Reusable Plastic Stencils for Use in Decorating

question 20

Multiple Choice

Autumn Fair sells reusable plastic stencils for use in decorating.When graphed,the demand schedule for Autumn Fair brand stencils forms a straight line.If at $3 per stencil,500 stencils are demanded,and at $4 per stencil,450 stencils are ordered,how many will be ordered at a price of $6 per stencil?

• A) 333
• B) 350
• C) 400
• D) 375

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Definitions:

Productive Process

The procedures involved in creating a product or service, encompassing everything from the acquisition of raw materials to the manufacture, labor, and overhead costs.

Materials Markup

The sum included in the goods' cost price to cover both overhead expenses and profit.

Time and Materials Pricing

A pricing method where customers are charged based on the actual time spent and materials used on their project.

Labor Hours

The total amount of time, measured in hours, that workers spend on producing goods or providing services within a specific period.