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 : Preferential treatment of discrimination

Programs that provide preferential treatment to members of groups which have previously suffered due to discrimination are termed as: (i) redistributive justice. (ii) affirmative action. (iii) compensating variations. (iv) equity considerations. (v) transfer programs.

Q : Linear demand curves and elasticity

When price falls and quantity rises along a negatively-sloped linear demand curve: (1) total revenues fall till elasticity equals zero, then this rises. (2) demand is decreasingly price elastic. (3) there is a contrad

Q : Short-run supply curve of a competitive

At any point on short-run supply curve of a competitive industry, every firm produces at the similar: (w) rate of technological equilibrium. (x) average cost. (y) marginal cost. (z) positive level of economic profit.

Q : Law of Supply Law of Supply : Supply

Law of Supply: Supply means the goods provided for sale at a price throughout a particular period of time. This is the capacity and intention of the producers to gen

Q : Impact of Monopoly in welfare Discuss

Discuss the impact of a monopoly on the welfare of the citizens of the country. In your discussion you should include policies that can be implemented by the government too reduce the abuse of dominant position in the market.

Q : Market initially at price and quantity

This market for peanuts is primarily into equilibrium at price: (w) P0 and quantity Q0 (x) P1 and quantity Q0 (y) P2 and quantity Q2 (z) P1 and quantity Q1

Q : Define Economics Briefly describe the

Briefly describe the term economics?

Q : Constructing a model of Production

Can someone please help me in determining the right answer from the following question. The three fundamental assumptions required to construct a model of the production possibilities frontier do not comprise: (1) Reducing marginal returns to producti

Q : Shifts in the Demand Curve What are the

What are the conditions that shifts the Demand Curve?

Q : Problem Bilateral Monopoly The word

The word economists employ to explain a condition where a powerful seller confronts the powerful buyer is: (1) Reciprocal exploitation. (2) Strategic bloc management. (3) Dialectical bargaining. (4) Ancillary reciprocity. (5) Bilateral monopoly.

Discover Q & A

Leading Solution Library

Avail More Than 1415468 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1949005
Asked

3,689

Active Tutors

1415468

Questions
Answered

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

Submit Assignment