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The law of supply states that what of a product will be offered at a high price and what of a producy will be offered at a low price?
The law of supply states that a greater quantity of a product will be offered for sale at higher prices, as producers are more willing to supply more when they can receive higher revenue. Conversely, a lower quantity of a product will be offered at lower prices, as producers may not find it profitable to supply as much at reduced prices. This relationship reflects the direct correlation between price and quantity supplied.
What is the revenue generated when price elasticity of demand is infinite?
When the price elasticity of demand is infinite, it means that consumers will buy any quantity of a good at a specific price, but will not purchase any at a higher price. In this case, the revenue generated remains constant at the set price, as any increase in price leads to a complete drop in quantity demanded. Therefore, total revenue is maximized at that particular price, regardless of how much quantity is supplied, as long as the price does not change.
Demand is said to be elastic if?
buyers do not respond much to changes in the price of the good.
What is diamond-water paradox in economics?
The diamond-water paradox in economics is the statement that water, which is essential to all life is offered at a lower price but diamonds, which are not essential for all life, is offered at a much higher price. It is simply the statement that something that has more utility costs less than something with less utility that costs more.
In economics what does the term market refer to?
The system of exchanging goods. A+
How much does a subscription to Maxim cost?
The subscription to Maxim costs from ten dollars to twenty dollars. It various based on the promotional that is offered. This is a very good price for a quality magazine.
How much is a Tom Delonge autograph worth?
There is no specific price to an autograph. You just have to agree on a reasonable price.
What is the closing price of a stock?
The closing price of a stock is how much a stock is worth after a specific day of trading.
How much is a maple nishada in Maplestory?
the price will always change if you search it on basil then you can get a good price
How much is skinID?
is $39.90 for a set...which in my opinion is a good price for what it does.
How nuch do you get to be a dj?
it depends how much you charge what is a good price and weather you did a good job
What part speech is all?
The phrase "all-you-can-eat" is an adjective. This is offered at restaurants where the diner pays a fixed price to literally eat as much as they can.
How much the price of each plate?
Price of plates is very variable. Please make the query more specific as to which kind or make of plates.
What part of speech is all-you-can-eat?
The phrase "all-you-can-eat" is an adjective. This is offered at restaurants where the diner pays a fixed price to literally eat as much as they can.
What is the word for how much a good or service will be sold in the market?
Retail price?
How much does a snuggie cost total?
The price is 19.99 its a good item
How much horseisle money is a good price for a subsription?
about 250-350k
