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.
Production function: It is the technological relationship among input and output of a firm and is termed as production function.
Indifference curve: It is the combination of two goods that provides consumer similar level of satisfaction.
In this figure the firm probably to go out of business the soonest would be as: (w) Firm A. (x) Firm B. (y) Firm C. (z) Firm D. Q : Means of monopolistic competition Select the right answer of the question. Monopolistic competition means: 1) a market situation where competition is based entirely on product differentiation and advertising. 2) a large number of firms producing a standardized or homogeneous product. 3) many firms pro
Select the right answer of the question. Monopolistic competition means: 1) a market situation where competition is based entirely on product differentiation and advertising. 2) a large number of firms producing a standardized or homogeneous product. 3) many firms pro
is the price in the "law of demand" a relative price or an absolute price
Hybrid Roses is the merely florist in 60 miles of Presidio, Texas. When total fixed costs (for example, rent and utilities) are $9 per hour, that profit-maximizing monopolist will incur total costs of around: (w) $20 per hour. (x) $27
Can someone help me in finding out the right answer from the given options. The marginal resource cost for the monopsonist in labor market which can’t wage discriminate: (i) Is perfectly elastic. (ii) Lies above the market supply of labor. (iii) Is perfectly ine
Is the study of cotton textile business a macroeconomic or a microeconomic study? Answer: The study of cotton textile business is a microeconomic study.
If business taxes are decreased and the real interest rate increases: A) consumption and saving will necessarily increase. B) the level of investment spending might either increase or decrease. C) the level of investment spending will necessarily increase. D) the leve
A monopolist will shut down within the short run while its equilibrium price as: (1) equals short-run average cost. (2) exceeds marginal cost. (3) is less than average variable cost. (4) is less than average fixed cost.
18,76,764
1924011 Asked
3,689
Active Tutors
1453221
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!