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How does the law of supply explain the relationship between the price of a good and its quantity supplied?
The law of supply states that as the price of a good increases, the quantity supplied by producers also increases. This is because higher prices incentivize producers to supply more of the good in order to maximize their profits. Conversely, if the price of a good decreases, the quantity supplied decreases as well, as producers are less willing to supply the good at a lower price.
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How do you Explain the difference between change in supply and change in quantity supplied?
A change in supply means that the supply curve has shifted. With a stable demand, this will result in a change in the quantity supplied but also a change in price. A change in only quantity supplied without a change in supply would require a horizontal supply curve. Alternatively a change in quantity supplied and price may occur if there is a shift of the demand curve.
Explain briefly what is demand and supply curve?
Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much quantity of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand.
Show what Diagrams to illustrate and explain the impact on the equilibrium wage rate and quantity of labor supplied in the labor markert more workers enter the labor marker?
Show what Diagrams to illustrate and explain the impact on the equilibrium wage rate and quantity of labour supplied in the labour markert more workers enter the labour marker?
Explain in details the relationship between economics facts theory and policy?
explain in details the relationships between economics facts, theory and policy.
To describe explain and predict changes in the price and quantity of goods sold?
Laws of Supply and Demand explain and predict changes in the price and quantity of goods sold.
How do you Explain the difference between change in supply and change in quantity supplied?
A change in supply means that the supply curve has shifted. With a stable demand, this will result in a change in the quantity supplied but also a change in price. A change in only quantity supplied without a change in supply would require a horizontal supply curve. Alternatively a change in quantity supplied and price may occur if there is a shift of the demand curve.
Explain briefly what is demand and supply curve?
Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much quantity of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand.
Show what Diagrams to illustrate and explain the impact on the equilibrium wage rate and quantity of labor supplied in the labor markert more workers enter the labor marker?
Show what Diagrams to illustrate and explain the impact on the equilibrium wage rate and quantity of labour supplied in the labour markert more workers enter the labour marker?
Explain the relationship between staff and line authority?
what is the relationship between staff and line authority?
What relationship is between over-training and rice?
explain the relationship between overtraining and rice
Archimedes principle helps to explain the relationship between what?
Archimedes principle helps explain the relationship between weight and volume. The term is specific gravity.
How did the scientists explain the relationship between the colors observed and the structure of the atom?
Q 3. How did the scientists explain the relationship between the colors observed and the structure of the atom?
What is the relationship between viruses and backups in the computer world?
Explain the relationship between viruses and backups in the computing world.
What is are the differences between Friedman's quantity theory of money and that of Irving fisher's?
Friedman's quantity theory of money focuses on long-run changes in money supply and its relationship with nominal income. Fisher's quantity theory expands on this to account for both short-run and long-run changes in money supply and velocity of money. Fisher also incorporates the concept of the equation of exchange to explain the relationship between money supply, velocity, price level, and real income.
Explain the relationship between www and internet?
isn't it the same??
What does article 4 of the constitution explain the relationship between?
The States.
What production function explain relationship between?
output and exports
