--%>
Assignment Help - homework help

Illustrates the term Law of Demand

Illustrates the term Law of Demand?

Answer: The law of Demand is termed as the “first law in market”. It shows the relation in between quantity and price demanded of a commodity within the market.

   Related Questions in Managerial Economics

  • Q : Spencer and Sieglemans definition of

    What is Spencer and Siegleman’s definition of Managerial economics?

    		•
  • Q : Economic incidence of a tax imposing

    The economic incidence of a tax: (i) identical to its legal incidence. (ii) either forward-shifted to suppliers or backward-shifted to consumers. (iii) imposed on whoever suffers decreased purchasing power because of the tax. (iv) more easily found th

    		•
  • Q : Learning-by-doing Firms may make use of

    Firms may make use of low prices to enter a market and gain market share therefore is can learn the intricacies of a particular product line or business. It is an illustration of: (1) limit pricing. (2) accommodation. (3) learning-by-

    		•
  • Q : What are the responsibilities of

    What are the responsibilities of managerial economists?

    		•
  • Q : Explain Exceptional Demand Curve

    Explain Exceptional Demand Curve.

    		•
  • Q : Labor Productivity Where diminishing

    Where diminishing returns overwhelm gains through the division of specialized labor, when there is an inflection point on the total revenue curve derived by a total output curve, and by the vantage point of a purely competitive firm h

    		•
  • Q : What are differences between

    What are the differences between differential cost and explicit cost?

    		•
  • Q : Categorized the Positive income

    Categorized the Positive income Elasticity?

    		•
  • Q : Illustrate Screening by Asymmetric

    Insistence by a potential employer which job applicants submit a résumé is an illustration of: (1) networking. (2) screening. (3) signaling. (4) bragging. (5) qualifying. Please choose the right answer from above...I

    		•
  • Q : Hiring additional workers exceeds the

    One purpose that firms hire labor at the point where w is equal to P x MPPL is: (1) if w < P x MPPL, the cost (w) of hiring additional workers exceeds the gains (P x MPPL) of hiring them, therefore they would hire fewer workers. (2) when w > P x

    		•