--%>
Assignment Help - homework help

Problem on law of demand

Let think about the law of demand. The idea that a big price for a normal good will outcome in less of the good being bought never based logically on the: (i) Income effect. (ii) Demand for the good falling since of the higher price. (iii) Law of reducing marginal utility. (iv) Substitution effect.

Can someone help me in getting through this problem.

   Related Questions in Microeconomics

  • Q : Monopsony Power- Labors Immobility I

    I have a problem in economics on Monopsony Power and Immobility of Labor. Please help me in the given question. The immobility of labor is economically significant as: (w) Most of the people like to move, however can't. (x) People in high salary occupations won't be c

    		•
  • Q : Major advantages of Corporations Can

    Can someone help me in finding out the right answer from the given options. The major benefits of the corporate form of business comprise: (i) Limited liability of owners. (ii) Better access to the markets for financial capital. (iii) The corporation is not dissolved

    		•
  • Q : Present value of a bond paying by

    At an interest rate of 5 percent per year the present value of a bond paying $100 yearly forever is: (a) infinite. (b) $500. (c) $909.10. (d) $2000. I need a good answer on the topic of Economics problems. Please give me your sugge

    		•
  • Q : Wise and efficient use of grocery in

    I have a problem in economics on Wise and efficient use of grocery in Consumer Surplus. Please help me in the following question. The consumer surplus is most probable to be raised by: (i) Wise and proficient use of grocery store coupons. (ii) Rises in the production

    		•
  • Q : Lorenz curve as graphical device A

    A Lorenz curve is graphical device which can be utilized to portray the: (w) number of people below the poverty level. (x) conflict between high tax rates and high tax revenues. (y) relative inequalities in the distribution of a variable across a popu

    		•
  • Q : On which point demand appears to be

    On this demonstrated figure of demand curve for DVD games, demand appears to be approximately unitarily elastic at: (w) Q = O, P = $50. (x) Q = 10, P = $O. (y) Q = 5, P = $25. (z) No point on the demand curve.

    Q : Concentration ratio Explain the concept

    Explain the concept of a concentration ratio.  Is the concentration ratio in a monopolistically competitive industry likely to be higher than for a perfectly competitive industry

    		•
  • Q : Monopoly market structure When one firm

    When one firm controls all production and the price of a good without shut substitutes, there is: (i) monopoly market structure. (ii) violation of the law of demand and supply. (iii) lack of equity although assurance of efficiency. (iv) legal barrier to entry. (v) cer

    		•
  • Q : Annuity of the Perpetuity Dividing the

    Dividing the annuity of the perpetuity by the interest rate gives in the perpetuity’s: (w) rate of return. (x) present value. (y) internal rate of discount. (z) capitalization rate. Can someo

    		•
  • Q : Problem on Proprietorships Can someone

    Can someone please help me in finding out the accurate answer from the following question. The most general legal form of business in United States is: (1) Sole proprietorships. (2) Partnerships. (3) Cooperatives. (4) Corporations.

    		•