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Producers cannot make enough of a good when that good becomes popular suddenly. Scarce Natural Resources make it more difficult for producers to keep up with demand.
Scarce Natural Resources make it more difficult for producers to keep up with demand.
A new technology allows producers to increase supply very quickly.
What else can I help you with?
What describes a situation which the price of a good would rise?
A new technology allows producers to increase supply very quickly
In which situation would the price of a good most likely increase?
A rise in demand happens to quickly for produces to increase production to keep up.
What describes a situation in which a price of a good would rise?
Demand goes up or supply goes down. - Producers cannot make enough of a good when that good becomes popular. - The raw materials or production capability for a good is unexpectedly reduced.
How would marginal utility and market demand be affected by rise in the price of a complementary good?
Both would decrease.
What would cause the price of diamonds to rise?
When bsbjdihbgw
What is the price elasticity of supply when the quantity supplied of a good rises from 120 to 140 as prices rise from 4 to 5.50?
the quantity supplied of a good rises from 120 to 140 as price rise from 4 to 5.50. what is the price elasticity of supply?
Brief note on price rise in India?
Prices situation that emerged in India was because of international commodity prices and since India is no longer a closed economy here were global recession. Also, there was drought. Hence, the price rise.
What happens when the price of a good drops?
Supply & Demand, EconomicsEconomic studies tell us that when the price of a good drops, demand will rise. Furthermore, when the price of a good rises, demand will go down.
What goods the example of unitary elasticity supply?
Unit elastic supply basically means that if price of a good rises, the supply of that good will rise an equal amount. A good example of his would be tomatoes.
Inelastic demand curve?
Inelastic demand means a situation in which the demand for a product does not increase or decrease correspondingly with a fall or rise in its price. From the supplier's viewpoint, this is a highly desirable situation because price and total revenue are directly related; an increase in price increases total revenue despite a fall in the quantity demanded. An example of a product with inelastic demand is gasoline. Refer to link below.
What will happen when the price of goods drop?
Supply & Demand, EconomicsEconomic studies tell us that when the price of a good drops, demand will rise. Furthermore, when the price of a good rises, demand will go down.
When consumers react to a price rise of one good by consuming lessof that good and more of another good in its place?
Substitution~Taxen
