According to the law of supply and demand

Assignment Help Business Economics
Reference no: EM131198505

According to the law of supply and demand

A) If the price of product or service goes down demand for it would decrease

B) low demand for a product or service should drive its price down

C) if the price of a product or service goes up,demand for it would increase

D) high demand for a product or service should drive its price down

Reference no: EM131198505

Questions Cloud

Compute the probability that all of the balls : Compute the probability that all of the balls in the sample are the same color. (Round your answer to four decimal places.)
Increasing marginal costs of production : The discussion on price ceiling supposed that the medical industry faces increasing marginal costs of production. Suppose a for profit, monopolistic hospital is experiencing economies of scale (ie a downward sloping average and marinal cost curve) in..
Squares of stained glass : Suppose you have ten squares of stained glass, all of different colors, and you would like to make a rectangular stained glass window in the shape of a 2 × 5 grid.
Which artistic appearances might you prefer and why : In general, which artistic appearance(s) might you prefer and why? Name several Cultural Styles in world that you would recognize. Define and distinguish the four different artistic appearances utilized in each image with the given terms.
According to the law of supply and demand : According to the law of supply and demand
Prepare an accrual basis income statement for 2013 : Zambrano Wholesale Corporation maintains its records on a cash basis.- Prepare an accrual basis income statement for 2013 (ignore income taxes).
How do it method can aid in improving behavior of employee : This project addresses the application of the scientific methods of Behavior-Based Safety (BBS) to improving intervention. Pick a job at your place of work or a job that relates to this material, and discuss how the "DO IT Method" can aid in impro..
Different types of oligopolies in the market economy : There are many different types of oligopolies in the market economy. When we look at oligopolies they are selling similar products. Give an example of an oligopoly explain how they are different than a monopoly?
Determined that the price elasticity of demand for beer : A restaurant/bar is analyzing its pricing of beer. It has determined that the price elasticity of demand for beer is −0.8; the cross-price elasticity for wine with respect to the price of beer is 0.9; the cross-price elasticity for appetizers is -1.4..

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd