Relationship between price and quantity demanded

Assignment Help Business Economics

Reference no: EM13999023

Ceteris paribus, there is an inverse relationship between price and quantity demanded. In other words, the demand curve for a good a negatively sloping. Can a demand curve still be negatively sloping of the marginal utility of the good is

A) constant

B) positively sloping

Reference no: EM13999023

Questions Cloud

Draw demand and supply curves for this good : Luxembourg imports a good at a world price of $10 each. The domestic supply curve is S = 50 + 5P where P is in Ecu and lEcu = $1. Demand curve is D = 400 - 1OP. Draw demand and supply curves for this good and indicate how much is imported.

Suppose at current factor prices countrys manufacturers : Suppose at current factor prices a country’s manufacturers use 60 hours of labor for each acre of land and food is produced using only fifteen hours of labor per acre of land. If the economy’s total resources are 1800 hours of labor and 180 acres of ..

Suppose the indifference curves for a consumer : suppose the indifference curves for a consumer are positively sloping. What can be inferred about their preferences? Make sure you label your axes and show the direction of higher indifference curves. can consumer surplus be negative? If yes, describ..

Explain the accounting treatment and disclosures required : Explain the accounting treatment and disclosures required when a change is made in depreciation method.

Relationship between price and quantity demanded : Ceteris paribus, there is an inverse relationship between price and quantity demanded. In other words, the demand curve for a good a negatively sloping. Can a demand curve still be negatively sloping of the marginal utility of the good is

Which group will be offered the lower price : Some recently visited popular priced comparison sites. Why might these retailers offer different prices to those who have and have not recently visited price comparison sites? If different prices are offered, which group will be offered the lower pri..

Find the optimal basket containing these two goods : Consider a Cobb-Douglas utility function of the type u(x,y) =x2y2. The prices of the two goods x,y are px = $2 and py=$4 consumers income is given by m=$100. find the optimal basket containing these two goods. find the demand functions for x. Must be..

Finding the optimal basket for a consumer : A) in finding the optimal basket for a consumer we assume The preferences are exogenously given (we know the indifference map for this consumer) what can change the preferences and why? What would be the effect of change in preferences on a consumers..

Find the amount of consumer surplus for a linear demand : Find the amount of consumer surplus for a linear demand p= 20-2x for p=0 and p= 10. What is the maximum and minimum amount of CS a consumer can have for this demand and what are the prices? What is the inverse demand function for good x with the foll..

User Account

All Pages