--%>
Assignment Help - homework help

Demand when price of good or resource drops

When the price of a good or resource drops, the demands for: (i) That good or resource raise. (ii) Complementary goods or resources reduce. (iii) Substitute goods or resources reduce. (iv) Luxury goods and inferior resources drop.

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

   Related Questions in Microeconomics

  • Q : Maximum possible economic profit of firm

    This firm’s maximum possible economic profit equals: (i) $12,000 per period. (ii) $16,000 per period. (iii) $20,000 per period. (iv) $24,000 per period. (v) $28,000 per period.

    Q : Market power conduct by a price maker

    HoloIMAGine has patented a holographic technology which makes 3-D photography obtainable to consumers. The illustrated figure shows such that HoloIMAGine: (1) makes profit equal to area dcP0P3 since this can price discriminate perfectly. (2) has market power as a pric

    		•
  • Q : Price elasticity of supply of commodity

    Determine the price elasticity of supply of a commodity whose straight line supply curve passes via the origin forming an angle of 45 degree/75 degree? Answer: Unit

    		•
  • Q : Natural monopolies closely regulated by

    Inside the United States, public utilities like natural gas lines or electric companies are frequently: (w) quite competitive while they vie for the consumer's dollars. (x) natural monopolies which are closely regulated by government. (y) seldom closely regulated thro

    		•
  • Q : Income elasticity-distribution and

    The time people focus upon politics and government policies tends to be income elastic. Nonetheless, high wage rates raise the opportunity costs of voting. Mutually, these facts suggest that, which relative to wealthier or higher-income people and low

    		•
  • Q : Outsourcing affect the economy Explain

    Explain how does outsourcing affect the economy?

    		•
  • Q : Problem on change in preferences Can

    Can someone help me in finding out the right answer from the given options. Tim liked to snack on slim jims on fishing; however his friend Earl for all time brought beef jerky. Tom slowly developed a taste for jerky and at present buys it more frequently than slim jim

    		•
  • Q : Monopolistic competition and oligopoly

    One of my friends can't succeed to get the solution of this question. Give me solution of this question. Under what circumstances can monopolistic competition and oligopoly describe stable prices?

    		•
  • Q : GDP In calculating the GDP national

    In calculating the GDP national income accountants

    		•
  • Q : Floating exchange rates Provide

    Provide solution of this question. In saying that the present system of floating exchange rates is managed we mean that: A) countries which allow their exchange rate to move freely will lose their borrowing privileges with the IMF.  B) the value of any IMF member

    		•