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According to the graph in this market a price of 1.50 would be .?
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What will happen to market price if demand decrease?
If the demand decreases, market price would go down. IN DETAIL: Demand is a rightward sloping downwards curve. Supply is a rightwards ascending curve. If you plot a graph of both, where the horizontal axis shows the quantity demanded by the market, and vertical axis shows the market price, the intersection of the demand and supply curve would give you the market price. A decrease in demand would mean a leftward shift in the demand curve, causing the intersection point of of the two curves to be lower than the previous one, which means at a point that shows a lower price. So the market price would decrease.
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price?
Because if it set its price higher than the current market price, it would not sell anything; and if it set its price lower than the current price, it would sell all of its product, but it would not make an economic profit. Understand, however, that this does not happen in real life, because in real life, there is no such thing as a perfectly competitive market.
Why price ceiling and price floor is binding?
A price ceiling is binding when it is below the equilibrium price. It is the legal maximum price, so the market wants to reach equilibrium (which is above that) but can't legally. If it were above the equilibrium price it would not be binding because the market would reach equilibrium and the ceiling would have no effect. A price floor is binding when it is above the equilibrium price. You can use similar reasoning to that above. It is the legal minimum price. the market wants to reach equilibrium below that but can't legally.
What sets prices in a perfect market?
market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .
Evaluate price and output determination under imperfect market structure?
Would it not be a Monopolistic with imperfect market structure
What will happen to market price if demand decrease?
If the demand decreases, market price would go down. IN DETAIL: Demand is a rightward sloping downwards curve. Supply is a rightwards ascending curve. If you plot a graph of both, where the horizontal axis shows the quantity demanded by the market, and vertical axis shows the market price, the intersection of the demand and supply curve would give you the market price. A decrease in demand would mean a leftward shift in the demand curve, causing the intersection point of of the two curves to be lower than the previous one, which means at a point that shows a lower price. So the market price would decrease.
What is the pricing stratagies of tradional food?
Pricing strategies of traditional food is determined by the traditional food market. They will set a price based off the demand. Usually in a normal graph you would choose the equilibrium price of traditional food.
The best graph to use if I want to compare the price of six different cars would be a?
Gay
Which kind of graph would you use to show how the price breed has changed over time?
Line chart
Why would a firm in a perfectly competitive market always choose to set its price equal to the current market price?
Because if it set its price higher than the current market price, it would not sell anything; and if it set its price lower than the current price, it would sell all of its product, but it would not make an economic profit. Understand, however, that this does not happen in real life, because in real life, there is no such thing as a perfectly competitive market.
Where are is the revenue in dollars and p is the selling price in how would you sketch a graph of R1500p-50sqrd?
1550
Why price ceiling and price floor is binding?
A price ceiling is binding when it is below the equilibrium price. It is the legal maximum price, so the market wants to reach equilibrium (which is above that) but can't legally. If it were above the equilibrium price it would not be binding because the market would reach equilibrium and the ceiling would have no effect. A price floor is binding when it is above the equilibrium price. You can use similar reasoning to that above. It is the legal minimum price. the market wants to reach equilibrium below that but can't legally.
What sets prices in a perfect market?
market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .
Explain why a niche company might have an advantage in a market Would price necessarily be an advantage Explain why or why not?
Explain why a niche company might have an advantage in a market would price necessarily be an advantage explain why or why not
How much is a deli meal at McDonald's?
In an ever changing market, it would be difficult at best to forecast a price for fast food items. Suggest you telephone the local outlet for this price as the prices may change according to region.hehehe
How do calculate closing stock?
Cost price (Purchase price) or market price whichever is less that would be taken as Closing Stock
How do you calculate 'closing stock?
Cost price (Purchase price) or market price whichever is less that would be taken as Closing Stock
