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No way, the opposite would happen by nature of the law of supply and demand.
If people want something less than they did yesterday, businesses would be foolish to raise prices because not only did demand decrease, but now you would have to pay more for something that's wanted less.
What else can I help you with?
The demand for a product is likely to be more elastic when?
A product is likely to be more elastic the more dispensable or unnecessary it is to the consumer. For instance, if the price increases and the product is elastic, the consumer will not demand as much because they can do without it.
When demand for an item decreases and the supply increases the price of the item will likely?
The price of the item will likely decrease - as there're more stock than demand for the product.
What is likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same.
Is likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same.
What is an example of a complementary good and how does it relate to the concept of consumer demand and consumption patterns?
An example of a complementary good is coffee and cream. When the price of coffee decreases, the demand for cream may increase because people are more likely to buy cream to go with their coffee. This relationship between complementary goods affects consumer demand and consumption patterns by influencing how much of each good people buy together.
What is most likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same.
What is most likely to lead to a decrease in the price of goods?
Demand decreases and supply remains the same.
What most likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same.
An increase in the demand for gasoline today caused by concerns that gasoline prices will be higher tomorrow is most likely attributable to consumer expectations or consumer preferences?
consumer preference
What is a complementary good and how does it relate to the concept of consumer demand and purchasing behavior?
A complementary good is a product that is typically used together with another product. For example, peanut butter and jelly are complementary goods because they are often consumed together. Consumer demand for one product can influence the demand for its complementary good. If the price of one product decreases, consumers may be more likely to purchase the complementary good as well. This relationship can impact purchasing behavior and overall market demand for both products.
What is most likely to occur after the government increases taxes?
It reduces the money available for private sector spending.
Which of these is most likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same would lead to a decrease in the price of a good.
