Determinants of demand affect the price
For a particular product how do the determinants of demand affect the price?
Expert
As demand for a goods increases the price also increases accordingly. So any determinant of demand which has positive or negative effect on demand will have the same effect on the price.
Opportunity cost: The Opportunity cost refers to the cost of next best alternative inevitable.
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The demand curve faced through a purely competitive firm at the current market price of: (i) negatively sloped. (ii) horizontal. (iii) perfectly inelastic. (iv) rectangularly hyperbolic. (v) positively sloped. Discover Q & A Leading Solution Library Avail More Than 1452522 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1959519 Asked 3,689 Active Tutors 1452522 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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