Increases in price of lithium and production of lithium

Assignment Help Business Management
Reference no: EM132831467

The "Law of Demand" says that output increases when price falls, all else equal. That is, demand curves slope downward. But sometimes we see the price of a good rise when output increases. For example, lithium is used in rechargeable batteries for computers, phones, other electronic goods, and even certain cars. Demand for lithium was low as recently as the early 2000s.Since then, both the price of lithium and the production of lithium have more than doubled.

What could explain the simultaneous increases in the price of lithium and the production of lithium? Use supply and demand curves to explain your answer. (Hint: Price and equilibrium quantity have both increased. Would a shift in the demand curve or a shift in the supply curve lead to this result?)

Reference no: EM132831467

Questions Cloud

Organizational innovation analysis : What are your organization's competitors' current trends of innovation? How does your organization's innovativeness compare to its competitors'?
Contingency planning process : What part of the contingency planning process came up short (IR, BP or CP) how could the shortcoming have been prevented?
Routine business activities : In what ways do they resemble ongoing, routine business activities?
Basis of Americans with Disability Act : Could she have a legal case on the basis of the Americans with Disability Act?
Increases in price of lithium and production of lithium : What could explain the simultaneous increases in the price of lithium and the production of lithium?
Fertility drugs and ovarian cancer : Stanford University medical researchers conducted a study on the correlation between the use of fertility drugs and ovarian cancer.
Data-Information-Knowledge : Discuss the relationship between data, information, and knowledge. Support your discussion with at least 3 academically reviewed articles.
What are some of the challenges your diversity : What are some of the challenges your diversity area would face in the country culture you selected if a comparison is made with the United States?
Enterprise content management practices : How do you think the enterprise content management practices of an organization without formal enterprise content management can be evaluated?

Reviews

Write a Review

Business Management Questions & Answers

  Program design reduces cost and satisfies learners

Question: Identify the design elements whish help ensure that participants learned and put it into practice. Explain how these design elements encourage learning and transfer.

  Weighted average cost of capital

The current market risk premium is 8.5 percent and the current risk-free rate is 3.6 percent. This year, the firm paid an annual dividend

  Establish performance standards for bob

1. How can Bob's manager establish performance standards for Bob? List two performance standards that Bob should meet.

  Components of the service-profit chain

Two important components of the service-profit chain are employees and the customer. Discuss your insights into this theory and give examples of how this theory has worked or not worked in a job you have had.

  Elucidate why each recommendation was made including

Elucidate why each recommendation was made including the information used also the logic (or analysis) applied to reach your conclusion.

  Management practices-organisation behavior outcomes

Write an essay of no more than 2000 words in which you critically reflect on the role of individual differences in your own management practices and Organisation Behavior outcomes. This assignment focuses on the Big Five Model of Personality.

  Why employers offer benefits and servicesconsidering the

why employers offer benefits and servicesconsidering the role of employees employers unions and government list at

  Characteristics of organizational structure

What are some characteristics of organizational structure that managers need to understand?

  What is plasti-tech wacc

If the tax rate is 35%, what is Plasti-tech's WACC?

  Segmentation approach for the market

Develop a segmentation approach for the market of your product and provide rationale for why this approach is a good one.

  Marketing-corporate social responsibility

What are the benefits? Are there any risks? What should management do? Identify specific actions to be taken, and specific time frames.

  Stakeholders ethical issues and social responsibility

For this week's discussion you will consider stakeholders' ethical issues and social responsibility in the corporate culture.

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