If a company producing plastic cookware discovers that the price of plastic has risen by 10 per cent, the company will decide to supply more cookware to the market.

Question

Quizplus · Accepted Answer

If the price of plastic has risen by 10%, it means that the cost of producing plastic cookware has also increased. In this scenario, the company may decide to either decrease production or increase the price of their cookware to maintain profitability. They may also look for alternative materials or suppliers to reduce costs, rather than supply more to the market.

If a Company Producing Plastic Cookware Discovers That the Price