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What else can I help you with?
What happens to price and quantity of milk when more people start eating cereal for breakfast?
people eat cereal for breafast now and milk is at an average price so it will not change in price at all:)
The demand for good x will be more elastic than the demand for good y when?
consumers have more time to adjust to a change in the price of good x than they have time to adjust to a change in the price of good y
What are the main reasons that firms adjust their output when the price level change?
stillwagon everybody.
What happens when the value is greater than one in elasticity?
it means that price is elastic. Price elastic means that a little change in the price will cause a substantial change in the quantity demanded.
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
What happens to price and quantity of milk when more people start eating cereal for breakfast?
people eat cereal for breafast now and milk is at an average price so it will not change in price at all:)
The demand for good x will be more elastic than the demand for good y when?
consumers have more time to adjust to a change in the price of good x than they have time to adjust to a change in the price of good y
What are the main reasons that firms adjust their output when the price level change?
stillwagon everybody.
When renewing a lease, does the price typically change?
When renewing a lease, the price can change, as landlords may adjust rent based on market conditions, property improvements, or other factors.
What happens when the value is greater than one in elasticity?
it means that price is elastic. Price elastic means that a little change in the price will cause a substantial change in the quantity demanded.
Explain how a change in price affects the demand for a product substitutes?
The change in price can affect the demand for that product. If the price increases people will look for cheaper substitutes.
What happens in the case of a product that has elastic supply when the price decrease?
people die
What is the lowest price I can get an oil change?
The cheapest price I ever got an oil change for was $24.95. I know some people who change the oil themselves. They told me it is not very hard to do.
What happens if price of petrolium products increased?
what happens if petrolium price is hike
What does gross price and net price?
The gross price is the basic price. Adjust for any discuont, add any relevant taxes and you get the net price.
What happens to the price of a good in a market with perfectly inelastic supply when there is a decrease in demand for that good?
In a market with perfectly inelastic supply, the price of a good will not change when there is a decrease in demand for that good.
The price of carnations drops by 50 percent what happens?
When the price of carnations drops by 50 percent, it typically leads to an increase in demand, as more consumers find the lower price attractive and choose to purchase them. Conversely, suppliers may reduce the quantity of carnations they are willing to sell at this lower price, as profit margins decrease. This change in price can also stimulate market activity, potentially attracting new buyers and increasing overall sales volume. In the long run, the market may reach a new equilibrium as demand and supply adjust to the new price level.
