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yes it is.. higher price'll definitely leads to less consumption of resources. because the higher priced products are aimed only for the upper class people..so if people of middle class want to buy that..price comes into view..hence it leads to lesss consumption..
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∙ 12y ago
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Increase the economic growth the interest rate or taxation?
neither would lead to growth. a higher interest rate would deter firms from investing higher taxation would lead to lower consumption spending and less supply of labor. both bad.
What is price utility?
It is giving consumption for customer by less price to meet their need & satisfay the customer based on their wan.
What happens when you Impose a price ceiling below the equilibrium price will lead to higher consumer surplus and an increase in social welfare?
If you impose this low price ceiling, manufacturers will make less and be forced to lay off workers causing higher unemployment. Therefore, social welfare would decreaase, not increase.
What is the relationship between marginal utility and demand?
There is a close relationship between the marginal utility and price of a commodity.The additional satisfaction from the consumption of an additional unit of the commodity is called marginal utilty. Price means the value of the goods expressed in the terms of money.Price of all units of he same goods of consumption are more or less identical.It means that the consumer pays the same price for all the units of the same goods of consumption. But marginal utility of the goods of consumption start diminishing as the consumer increase the units of consumption of the commodity.Therefore the consumer will like to pay that price for the commodity,which is equal to the marginal utility he gets from the commodity.If the price of the commodity are higher than the marginal utility he derives from the commodity he will not like to purchase the commodity. In this way there is a clod\se relation between the marginal utility and the price of the commodity.
What is the rule stating that more of a product will be consumed at a lower price and less will be consumed at a higher price?
Law of demand
Increase the economic growth the interest rate or taxation?
neither would lead to growth. a higher interest rate would deter firms from investing higher taxation would lead to lower consumption spending and less supply of labor. both bad.
What is price utility?
It is giving consumption for customer by less price to meet their need & satisfay the customer based on their wan.
What happens when you Impose a price ceiling below the equilibrium price will lead to higher consumer surplus and an increase in social welfare?
If you impose this low price ceiling, manufacturers will make less and be forced to lay off workers causing higher unemployment. Therefore, social welfare would decreaase, not increase.
What is the relationship between marginal utility and demand?
There is a close relationship between the marginal utility and price of a commodity.The additional satisfaction from the consumption of an additional unit of the commodity is called marginal utilty. Price means the value of the goods expressed in the terms of money.Price of all units of he same goods of consumption are more or less identical.It means that the consumer pays the same price for all the units of the same goods of consumption. But marginal utility of the goods of consumption start diminishing as the consumer increase the units of consumption of the commodity.Therefore the consumer will like to pay that price for the commodity,which is equal to the marginal utility he gets from the commodity.If the price of the commodity are higher than the marginal utility he derives from the commodity he will not like to purchase the commodity. In this way there is a clod\se relation between the marginal utility and the price of the commodity.
What is the rule stating that more of a product will be consumed at a lower price and less will be consumed at a higher price?
Law of demand
Why price of condominium unit is higher on higher floors?
Less risk of break in. Better view. Usually quieter.
How does consumer expectation affect demand for goods?
Consumers will buy more of a good when its price is lower and less when its price is higher.
Why are gold and silver known a precious metals?
They are rare metals, meaning not as common. It's price and demand. The less there is, the more it will cost, and the higher the demand, the higher the price (again).
If a digital camera has a higher resolution will its price be higher?
Depending on the type of camera (ie.. Kodak, Canon, etc...) yes your price will be higher. If you go with a cheaper camera that has less features but a higher resolution, that would be your best bet for finding a high resolution camera for a decent price.
Why does bromine have higher ionization energy then lead?
Bromine has less valence shells than lead making the distance between its valence electron and its nucleus less than that of lead. This means that there is greater attraction between the nucleus and electron for bromine and it requires a higher ionisation energy to remove its electron.
How does consumer expectation affect demand for certine goods?
Consumers will buy more of a good when its price is lower and less when its price is higher.
What is the relationship between price and the quantity demand?
The relationship between price and quantity demanded is known as the demand relationship.A. The Law of DemandThe law of demand states that, if all other factors remain equal, the higher the price of a good, the less people will demand that good. In other words, the higher the price, the lower the quantity demanded. The amount of a good that buyers purchase at a higher price is less because as the price of a good goes up, so does the opportunity cost of buying that good. As a result, people will naturally avoid buying a product that will force them to forgo the consumption of something else they value more. The chart below shows that the curve is a downward slope.
