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Suppose that a toy producer is producing 500 dolls and the price of one doll is
$85.50. If the price of dolls decreases to $75.50 what would you expect the doll
producer to do?
Produce more than 500 dolls
Produce 500 dolls
The number of dolls to be produced cannot be determined without more
information
Produce less than 500 dolls
Question 3 (20 points)

Question

22-04-2024
Business

Answered

Listen
Suppose that a toy producer is producing 500 dolls and the price of one doll is
$85.50. If the price of dolls decreases to $75.50 what would you expect the doll
producer to do?
Produce more than 500 dolls
Produce 500 dolls
The number of dolls to be produced cannot be determined without more
information
Produce less than 500 dolls
Question 3 (20 points)

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-04-22T16:23:06-04:00

The doll producer would likely produce less than 500 dolls. Here's why: 1. When the price of dolls decreases, it typically means that the demand for dolls might be lower because consumers are not willing to pay as much for them. 2. In response to this lower demand and lower price, the doll producer would adjust their production to match the expected demand. Producing more dolls than demanded could lead to an excess of inventory, which would not be cost-effective for the producer. 3. Therefore, it is reasonable to expect the doll producer to reduce the number of dolls produced in order to align with the lower price and demand, leading to the production of less than 500 dolls.