Chester has negotiated a new labor contract for the next round that will affect the cost for their product Cone. Labor costs will go from $7.70 to $8.30 per unit. Assume all period and other variable costs remain the same. If Chester were to absorb the new labor costs without passing them on in the form of higher prices, how many units of product Cone would need to be sold next round to break even on the product

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand

Which of the following statements is true of unsought products? as compared to convenience products, unsought products are purchased more frequently. unsought products are consumer products and services that customers usually buy frequently, immediately, and with minimal comparison and buying effort. a life insurance policy is an example of an unsought product. unsought products have strong brand identification for which a significant group of buyers is willing to make a special purchase effort. unsought products are those products purchased for further processing or for use in conducting a business.

An economic theory that calls for workers to take control of factories is .