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The tax on a commodity is diminished by 20 percent and its consumption increases by 5 percent so how much is the decrease on the revenue?
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How is the law of supply similar to the law of demand?
If the demand for a commodity increases, but the supply does not increase equally, the price will increase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will decrease. If the demand for a commodity decreases, but the supply does not decrease equally, the price will decrease. If the supply of a commodity decreases, but the demand does not decrease equally, the price will increase.
State what the law of supply and demand shows and describe how it works?
If the demand for a commodity increases, but the supply does not increase equally, the price will decreaase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will increase. If the demand for a commodity decreases, but the supply does not decrease equally, the price will increase. If the supply of a commodity decreases, but the demand does not decrease equally, the price will decrease
If a good is a normal good what will happen to its consumption as income increases?
The definition of a Normal Good is: a good that will increase in consumption as income increases and decrease in consumption as income decreases.
When will happen if the sellers in the market increase?
As the Number of Sellers Increases, the Supply of the commodity Increases. As Supply Increases, and demand remains constant, Prices Decrease.
Effects of supply and demand?
supply and demand effects the market economy and commodity prices. with a increase in demand commodity price increases resulting in inflation in economy and viceversa, and with increase in supply by producers there is decrease in commodity price resulting in deflation in economy.
How is the law of supply similar to the law of demand?
If the demand for a commodity increases, but the supply does not increase equally, the price will increase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will decrease. If the demand for a commodity decreases, but the supply does not decrease equally, the price will decrease. If the supply of a commodity decreases, but the demand does not decrease equally, the price will increase.
State what the law of supply and demand shows and describe how it works?
If the demand for a commodity increases, but the supply does not increase equally, the price will decreaase. If the supply of a commodity increases, but the demand for that commodity does not increase equally, the price will increase. If the demand for a commodity decreases, but the supply does not decrease equally, the price will increase. If the supply of a commodity decreases, but the demand does not decrease equally, the price will decrease
If a good is a normal good what will happen to its consumption as income increases?
The definition of a Normal Good is: a good that will increase in consumption as income increases and decrease in consumption as income decreases.
When will happen if the sellers in the market increase?
As the Number of Sellers Increases, the Supply of the commodity Increases. As Supply Increases, and demand remains constant, Prices Decrease.
What happens to equilibrium price of a commodity if there is decrease in its demand and increase in its supply?
Equilibrium price increases
Effects of supply and demand?
supply and demand effects the market economy and commodity prices. with a increase in demand commodity price increases resulting in inflation in economy and viceversa, and with increase in supply by producers there is decrease in commodity price resulting in deflation in economy.
When taxes decrease what does consumption do?
When taxes decrease, consumption
How does the law of supply and demand work?
In the event that the interest for a product increments, yet the inventory doesn't increment similarly, the cost will increment. On the off chance that the inventory of a ware increments, however the interest for that ware doesn't increment similarly, the cost will diminish. On the off chance that the interest for a product diminishes, yet the stock doesn't diminish similarly, the cost will diminish. In the event that the inventory of an item diminishes, yet the interest doesn't diminish similarly, the cost will increment.
Price elasticity of demand for luxury goods will be?
elastic becoz wen price of the commodity changes , it affects the demand for the commodity .. Demand for a product is sensitive to price changes .. With icrease in price , the demand decreases nd with decrease in price , demand increases ..
Why is price of a commodity is inversly related to quantity demand?
The price of a commodity is inversely related to quantity demanded because as the price of a commodity decreases, more consumers are willing and able to purchase it due to increased affordability. This leads to an increase in quantity demanded. Conversely, as the price of a commodity increases, the quantity demanded tends to decrease as consumers may find it less affordable or seek alternative options.
What happens to demand when The price of the commodity is expected to decrease?
Scarcity
If an asset increases is it an increase or decrease in cash?
if an asset increases, is it an icrease or decrease in cash?
