Problem on Determinants of Demand

I have a problem in economics on Determinants of Demand. Please help me in the following question. Income and tastes most directly influence the: (i) Demand. (ii) Market equilibrium (iii) Prices. (iii) Quantities. (iv) Supply.

Can someone please help me in finding out the accurate answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Characteristics of Entrepreneurship The

The Characteristics common to most of the successful entrepreneurs do not comprise: (1) Vision and timing. (2) Conviction and action. (iii) Luck and the bureaucratic one-upmanship. (iv) Determination and workaholics. Can someone pl

Q : Moral Hazard-Risk of money When you

When you paid a friend’s entrance fee for the poker tournament and agreed to divide any winnings and then your friend played sloppily as your money is at risk, not his, and then you have suffered since of: (1) Adverse selection. (2) Fraudulent information. (3) I

Q : Labor Unions-Sitdown Strikes Whenever

Whenever unions and managers have failed to arrive at a collective bargaining agreement and workers reject to leave the production facility owned by firm, the union’s strategy is termed as: (i) Boycott or an embargo. (ii) Management lock-out. (i

Q : Factors establishing elasticity of

Factors establishing elasticity of supply: The factors below will persuade the elasticity of supply: 1. Modifications in cost of production. 2. Behavior pattern of producers. 3. Accessibility of faci

Q : Average of incurring total fixed costs

This brickyard is incurring total fixed costs which average about: (1) $200 daily. (2) $300 daily. (3) $400 daily. (4) $500 daily (5) $600 daily.

Q : Managerial economics and good business

please find the attached file (project) and qoute for it. minimus 7 pages required.

Q : Average variable costs with marginal

All profit maximizing firms which are not shut down since demand never exceeds average variable costs will make where marginal revenue as: (w) excludes average revenue. (x) equals average variable cost. (y) equals mar

Q : Equilibrium quantity and price

Elucidate the consequence of an increase in demand of a commodity on its equilibrium quantity and price? Answer: Increase in demand causes a rightward shift in the

Q : Market Power and Monopsony Power-

Assume that a firm with market power in the output market wants to develop and that hiring more workers needs it to raise salaries 8 percent for all the workers. Output prices will most likely: (i) Increase 8 percent to cover the wage rise. (ii) Increase less than 8 p

Q : Setting a price in profit-maximizing

This profit-maximizing firm as in demonstrated figure will set a price where: (1) P > MC = MR. (2) MR > MC = P. (3) MR = P > MC. (4) MR = P > MC. (5) P < MC < MR.

Discover Q & A

Leading Solution Library

Avail More Than 1426715 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1947785
Asked

3,689

Active Tutors

1426715

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment