Change in relative price, I have a problem in economics on Change in relative price.

Change in relative price

I have a problem in economics on Change in relative price. Please help me in the following question. The Substitution takes place all along a demand curve when there is a: (1) Rapid shortage of a required product. (2) Increase in the common price level. (3) Change in relative price of good. (4) Market excess.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Changes in Household Demand The changes

The changes in a household’s tastes most directly influence the families: (1) Number of members. (2) Demands for goods. (3) Total wealth. (4) Income constraint. Can someone please help me in finding out the a

Q : Facing a competitive firm more elastic

The demand curve facing an unregulated non-discriminating monopolist is NOT: (w) similar as the industry's demand curve. (x) downward sloping. (y) more elastic than the demand curve facing a competitive firm. (z) various from its marg

Q : Monopolist in an output market Can

Can someone please help me in finding out the accurate answer from the following question. The labor monopsonist who is as well a monopolist in an output market: (1) Always makes huge profits. (2) Hires more units of the labor when

Q : Expectations in market demands for

Present market demands for most of the durable goods tend to rise if: (1) Their prices are predicted to rise in the near future. (2) Consumers expect growth in supplies of substitutes. (3) Technological advances make present models obsolete. (4) The p

Q : Positively sloped supply curve of a

Can someone please help me in finding out the accurate answer from the following question. According to most conventional theories of labor market: (1) The supply curve of labor is positively sloped as higher salaries attract the extra workers to the labor market. (2)

Q : Demand curve when taxes shifted forward

Taxes will be shifted forward completely when supply is positively sloped as well as the demand curve is, there contrary to economic reasoning: (1) perfectly inelastic. (2) perfectly elastic. (3) unitarily elastic. (4) flatter than supply.

Q : Cross elasticity coefficient substitutes

When Ford raises pickup truck prices 20 percent and Chevy pickup sales rise 12 percent, in that case these goods are _____ as well as their cross elasticity coefficient is approximately _____. (w) complements; 0.6. (x) substitutes; 0.6. (y) subs

Q : Microeconomics Assignment Please give

Please give me a quote for this uploaded assignment. I need it by the 10th of may 2013. Thank You

Q : Perfectly competitive monopolized

When a perfectly competitive industry is monopolized along with no effect on costs in that case the result will be: (w) higher prices and greater output. (x) lower prices and greater output. (y) higher prices and lower output. (z) lower prices and low

Q : Economic profits by competitive

Economic profits produce competitive pressures which cause: (w) each firm’s output to shrink during the short run. (x) an industry’s output to increase. (y) market prices to increase. (z) firms to leave an industry.

Discover Q & A

Leading Solution Library

Avail More Than 1441630 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1928361
Asked

3,689

Active Tutors

1441630

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment