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Explain the effects of a rise in the price on market when the price elasticity of demand for product is inelastic?
Revenue of the producer will increase since there will be no change in quantity demanded.
Explain law of demand?
Law of demand is an important law of economics. It establishes a relationship between price and demand.other things renaming the same when the price of commodity falls its demand will go up likewise,when the price of the commodity rises its demand will fall price and demand moves in opposite direction.there is inverse relationship between demand and price.in other words low price high demand high price low demand.
Explain the effect on the equilibrium price and quantity if increase in the price in product?
If the price increases it means there is not a lot of product avaible. This is seen when a company can not keep up with demand the tend to raise prices so that demand goes down. This is also seen in with the opposite effects, if a company has too much of a product then they lower prices to increase demand
Explain why the cost of everthing goes up immediately when disasters hit an area?
The cost of things increase during a crisis because there is a potential for scarcity. When things can be depleted, they become highly demanded, which warrants and increase in price.
What happen to most goods and services when there is an increase in price?
When there is an increase in price, there is a decrease in the quantity demanded.
There is Increase in price of salt explain its effect on its demand?
help me
Explain the effects of a rise in the price on market when the price elasticity of demand for product is inelastic?
Revenue of the producer will increase since there will be no change in quantity demanded.
Using graphs explain the difference between a giffen and a normal good?
when x is inferior and y is normal then price of increase
What is the verb in Avocados increase in price after a drought?
Avocados will increase in price after a drought.
What channel is the price is right on direct tv?
What channel is the price is right on direct tv?Read more:What_channel_is_the_price_is_right_on_direct_tv
Explain law of demand?
Law of demand is an important law of economics. It establishes a relationship between price and demand.other things renaming the same when the price of commodity falls its demand will go up likewise,when the price of the commodity rises its demand will fall price and demand moves in opposite direction.there is inverse relationship between demand and price.in other words low price high demand high price low demand.
Explain the effect on the equilibrium price and quantity if increase in the price in product?
If the price increases it means there is not a lot of product avaible. This is seen when a company can not keep up with demand the tend to raise prices so that demand goes down. This is also seen in with the opposite effects, if a company has too much of a product then they lower prices to increase demand
Explain why the cost of everthing goes up immediately when disasters hit an area?
The cost of things increase during a crisis because there is a potential for scarcity. When things can be depleted, they become highly demanded, which warrants and increase in price.
How do you calculate price increase?
Calculating price increase takes several steps. First, the actual increase must be determined. Then the difference must be divided in order to find out the actual percentage of the price increase.
What happen to most goods and services when there is an increase in price?
When there is an increase in price, there is a decrease in the quantity demanded.
What is the difference between increase in demand and an increase in quantity demand?
Increase in demand::It imply rightwaed shift of demand curve.Therefore change in factors other than price.1. increase in taste increase in demand curve2. increase in popoulation increase in demand curve3. increase in income increase demand if normal good4. fall in income increase demand if an inferior good5. increase in price of substitute (pepsi) increase demand for good(coke)6. fall in price of complement (beer) increase demand for good7. if we expect the price of the product to increase in the future , our demand today will increase.Increse in quantity demanded::Movement up the demand curve.Therefore change in price-------- increase in price cause a decrese in quantity demanded,decrese in price cause an increase in quantity demanded .
Can you explain why there is no pressure for the equilibrium price to change?
The equilibrium price exists when at that price supply and demand for a product are equal. Apparently at that price level everybody is happy and as long as nothing changes there will be no pressure. If it would arise because of an increase in eithersupply or demand, the price would no longer be an equilibrium price and it would shift to another - higher or lower - level.
