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The negative incentive will cause consumers to purchase less of a good or service if it is of lower quality
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How will consumers react to the incentive of a higher price on a good or services?
The negative incentive will cause consumers to purchase less of a good or service if it is of lower quality
How will consumers react to the incentive of a higher price of good or service?
The negative incentive will cause consumers to purchase less of a good or service if it is of lower quality
What is a price incentive.?
What was a price incentive
Is the main concern of most consumers price of the product or service?
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How do you find the price elasticity of demand for a product or service?
To find the price elasticity of demand for a product or service, you can use the formula: Price Elasticity of Demand ( Change in Quantity Demanded) / ( Change in Price). This formula helps determine how sensitive consumers are to changes in price. A higher absolute value indicates greater sensitivity to price changes.
Suppliers have an incentive to increase output when price is higher than cost of production .true or false?
true
What are the factors that affect quantity demanded?
Quantity Demanded is only affected by the change in prices & all other factors given below only affect or lay down changes in Demand2. taste/preference of consumers; the higher the pereference for a particular goods/service the higher the qd for the goods/service; the lower the preference the lower the qd of the goods/service3. deposable income (dy) of consumers; the higher the dy of consumers the higher the qd of goods/services; the lower the yd the lower the qd of goods/services4. population. the more the population the higher the qd for goods/services; the lower the population the lower the qd for goods/services5. price of complimentary goods/services; the higher the price of complimentary goods the lower the demand for the main goods; the lower the price of the complimentary goods/service the higher the demmand for the main goods/service.by;Zain-Ul-abideen email. Zain-Ul-abideen@hotmail.com
What is the amount of a good or service that consumers are willing to buy at a certain price?
supply
What is it called when consumers have a great influence on the price of all goods and service?
Demand
What are needed to determine the equilibrium price of a good or service?
Consumers have inelastic demand
How do free markets lead to higher quality goods and lower prices?
Because if you don't offer a better product or better service or a lower price for a same service, you will not get customers. So you have to beat the opposition. In a controlled, or none-free market there is no incentive to do better.
What causes the equilibrium to go up?
An increase in demand or a decrease in supply can cause the equilibrium price to rise. This occurs when more consumers are willing to purchase a good or service at a higher price, or when there are fewer goods available for sale.
