How consumption influence the equilibrium price
How does rise in price of a substitute good in consumption influence the equilibrium price?
Expert
Answer: With the increase in price of the substitute good, the equilibrium price of concerned good will rise owing to shift in demand curve to the right.
Meaning of tax: Tax is a legally compulsory payment imposed on the people by the government. There are two kinds of taxes: Direct taxes and Indirect taxes.
In the short run, simple and cheap new cures for cancer and heart disease would most likely decrease the: (i) Gains of tobacco companies. (ii) Absentee rates of nearly all young workers. (iii) Demands for the hospital beds in intensive care units. (iv) Supplies of doc
The firm with monopsony power in labor market: (1) Can hire any significant amount of labor devoid of affecting the wage. (2) Can pay any wage it wishes. (3) Must pay a higher wage when it hires more labor. (4) Must pay a lower wage when it hires more
Can the value of APS be negative:Yes, the value of APS is negative; when there are dissavings.
During product differentiation, the firms attempt to: (w) become price takers. (x) gain a degree of market power over their pricing and sales of their products. (y) increase the supply of their products. (z) raise the price elasticity of the demand fo
hello how to make system analysis of work
Along this demonstrated in below demand curve for DVD games, demand is more elastic at a price of: (w) $10. (x) $6. (y) $1. (z) zero. Q : Properties of production possibilities Describe properties of the production possibilities curve.
Describe properties of the production possibilities curve.
Assume that a monopolist faces a demand curve that is higher at several output levels than is the firm’s average variable cost curve. Therefore the firm will generate where MR is equal to MC to maximize: (w) total revenue. (x) consumer surplus.
I have a problem in economics on Demand of Substitute Goods. Please help me in the following question. All as well equivalent, raised prices for a new Toyotas will most instantly rise the: (1) Price cuts essential for ‘lemons’ to be sold b
18,76,764
1952988 Asked
3,689
Active Tutors
1460210
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!