Problem on positive quantity Supply

The law of supply defines that, other things equivalent: (1) Quantity supplied differs inversely with price. (2) A good’s supply is positively associated to its demand. (3) Quantity supplied is positively associated to price. (4) Prices and costs and are positively related.

Choose the precise answer from the above options.

View Complete Question

Related Questions in Microeconomics

Q : Prices and sales of normal goods The

The growth of per capita national income would most likely rise the: (i) Prices of lard and employed tires. (ii) Federal budget deficit. (iii) Prices and sales of the luxury cars. (iv) Supply of untrained labor. Ca

Q : Decrease the burden of sales tax on low

To decrease the burden of a sales tax upon low income households, in that case: (i) goods along with high income elasticities should be taxed. (ii) goods along with low income elasticities should be taxed. (iii) goods along with high income elasticities must be exempt

Q : Equal Income in Lorenz Curve When all

When all households have equal incomes, in that case the Lorenz curve would be: (w) zero. (x) a 45 degree line. (y) 1. (z) rectangularly hyperbolic. Hey friends please give your opinion for the problem of E

Q : Negative externalities in production

Production which generates negative externalities: (w) would lead to underproduction and overpricing of goods. (x) increases producers’ costs of production. (y) increases consumers cost of purchasing the good. (z) would cause the market price of

Q : State normal good Normal good : It is a

Normal good: It is a good for which, other things equivalent, a rise in income leads to a rise in demand.

Q : Range of market demand in market

When economies of scale in producing a product persist across the complete range of market demand as: (w) pure competition is the most efficient market structure. (x) competition will prevent monopolization of the industry. (y) compet

Q : Typical purely competitive firm in

The typical purely competitive firm: (w) is both a price maker and a quantity adjuster. (x) operates within the inelastic range of the demand curve. (y) should decide how much to produce at prices set through the market. (z) tries to maximize total sa

Discover Q & A

Leading Solution Library

Avail More Than 1430017 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1930761
Asked

3,689

Active Tutors

1430017

Questions
Answered

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

Submit Assignment