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In the game of economics producers get the information they need to determine how much people are willing to pay for a good or service from?
Producers gather information about consumer willingness to pay through market research, sales data, and competitor analysis. They also rely on signals from supply and demand dynamics, including price trends and consumer feedback. Additionally, tools like surveys and focus groups can provide insights into consumer preferences and price sensitivity. Ultimately, this information helps producers make informed decisions about pricing and production levels.
What else can I help you with?
In the game of economics producers get the information the need to determine how much people are willing to pay for good or service from which of the following?
consumers
How can one determine the marginal cost in economics"?
To determine the marginal cost in economics, you calculate the change in total cost when producing one additional unit of a good or service. This can be done by dividing the change in total cost by the change in quantity produced.
Economics is not about a service?
true
How can one determine how to find the marginal utility in economics?
To find the marginal utility in economics, one can calculate the change in total utility when consuming one additional unit of a good or service. This can be done by dividing the change in total utility by the change in quantity consumed. The marginal utility helps determine the additional satisfaction gained from consuming one more unit of a good or service.
Examples of positive economics?
what is positive economics and its examples
In the game of economics producers get the information the need to determine how much people are willing to pay for good or service from which of the following?
consumers
How can one determine the marginal cost in economics"?
To determine the marginal cost in economics, you calculate the change in total cost when producing one additional unit of a good or service. This can be done by dividing the change in total cost by the change in quantity produced.
Economics is not about a service?
true
How can one determine how to find the marginal utility in economics?
To find the marginal utility in economics, one can calculate the change in total utility when consuming one additional unit of a good or service. This can be done by dividing the change in total utility by the change in quantity consumed. The marginal utility helps determine the additional satisfaction gained from consuming one more unit of a good or service.
Examples of positive economics?
what is positive economics and its examples
How does excess supply in economics impact market equilibrium and pricing dynamics?
Excess supply in economics occurs when the quantity of a good or service supplied by producers exceeds the quantity demanded by consumers at a given price. This imbalance can lead to a surplus of goods in the market, which can put downward pressure on prices as producers try to sell off their excess inventory. In response, producers may reduce their prices to attract more buyers, eventually leading to a new equilibrium where supply and demand are once again in balance. This process of adjusting prices to reach a new equilibrium is known as pricing dynamics in economics.
What is consider service in economics?
goods
How is the Law of Supply related to opportunity cost in economics?
The Law of Supply in economics states that as the price of a good or service increases, the quantity supplied by producers also increases. This is related to opportunity cost because when producers choose to supply more of a particular good or service at a higher price, they are forgoing the opportunity to allocate their resources towards producing other goods or services. In essence, the Law of Supply highlights the trade-off between producing more of one item and potentially missing out on producing something else.
What is pieces framework?
PIECES Framework is a checklist use for existing information system. Each letter stands for P -Performance, I- Information, E- Economics, C- Control, E- Effieciency and S-Service.
Which of these is not closely related to the these of economics?
Civil Service Commission
Which of these producers provide only a service?
financial advisors
What is the difference between producersconsmers?
Im guessing you mean the difference between producers and consumers. Producers make a product or give a service, and consumers purchase, a service or product.
