Determinants of demand affect the price
For a particular product how do the determinants of demand affect the price?
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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.
When Robomatic Corporation maximizes profit in its production of RoboMaids, its average production cost per robot will be roughly: (1) $3,000 per robot. (2) $5,000 per robot. (3) $7,000 per robot. (4) $9,000 per robot. (5) $11,000 per robot.
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The demand for gasoline would rise rapidly after a fifty percent: (i) Drop in the price of crude oil. (ii) Discovery of main latest oil supplies. (iii) Cut in public transportation fares. (iv) Cut in latest car prices. Discover Q & A Leading Solution Library Avail More Than 1430910 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1935756 Asked 3,689 Active Tutors 1430910 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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