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When a good or service is highly desired but the quantity supplied is limited, competition among consumers typically drives prices higher. As consumers compete for the limited quantity, they may be willing to pay more, which can significantly increase the profits for selling firms. This heightened demand can lead firms to maximize their pricing strategies, capitalizing on the scarcity. Consequently, firms can see substantial profit margins until supply can potentially adjust to meet the demand.
What else can I help you with?
Suppose the price elasticity of demand for bread is 0.20 If the price of bread falls by 10 percent the quantity demanded will increase by?
2%.
Suppose the elasticity of demand for cereal is 1 if cereal increases in price by 25 percent how much will the quantity demanded decreased by?
25 percent
Suppose the elasticity of demand for cereal is 1. If cereal increases in price by 25 percent how much will the quantity demanded decrease by?
25 percent
In the market for Chinese take-out suppose that the price of Sushi take-out a substitute decreases in price. What will happen to the demand for Chinese take-out?
If the price of sushi take-out, a substitute for Chinese take-out, decreases, the demand for Chinese take-out is likely to decrease. Consumers may choose sushi over Chinese food due to its lower price, leading to a shift in preference. As a result, the demand curve for Chinese take-out will shift to the left, indicating a reduction in quantity demanded at various price levels.
Suppose that as the output of mobile phones increases the cost of touch screens and other component parts decreases. If the mobile phone industry features pure competition we would expect the long-r?
Downward sloping.
What a secondary consumers?
other secondary consumers. all animals that eat other animals are are secondary consumers. so I suppose we eat them.
What does uncontested lover mean?
I suppose it means a lover who has no competition.
What are examples of tertiary consumers in swamps or wetlands?
I suppose crocodiles and alligators are two examples.
How does supply affect the prices firms charge for goods to consumers?
Change in either demand or supply will cause change in both price and quantity. Suppose people started seeing this headline everywhere: “Medical researchers discover that drinking coffee has immediate health benefits.” What do you expect would happen to the price and quantity of coffee that is exchanged in the market? The news might alter consumer tastes for coffee and lead to an increase in the demand for the drink. As demand increases, the quantity that consumers are willing and able to purchase at every price increases. Because coffee is relatively scarce and its producers face increasing marginal cost, the equilibrium price and quantity of coffee will rise in response to the increased demand.
How do you dispose of black powder?
I suppose it depends on the quantity. I've flushed a few lbs in the toilet before.
Who named christopher Columbus's three ships?
I suppose Spain got to name them because Queen Isabella of Spain supplied the three ships and a crew.
What are third order consumers called?
Third level consumers are consumers that feed on second level consumers. A hawk eating a rattlesnake would be an example of a third level consumer. In a forest ecosystem, snakes are third level consumers. Herons and large fish are also third level consumers.
Suppose the price elasticity of demand for bread is 0.20 If the price of bread falls by 10 percent the quantity demanded will increase by?
2%.
Suppose the elasticity of demand for cereal is 1 if cereal increases in price by 25 percent how much will the quantity demanded decreased by?
25 percent
Suppose the elasticity of demand for cereal is 1. If cereal increases in price by 25 percent how much will the quantity demanded decrease by?
25 percent
How do you make teddy bear for fancy dress competition in school for my 4 year boy?
use papier mache and paint it i suppose
Why aren't all acids poisonous?
Anything - in sufficient quantity - will poison us.I suppose some acids are weak enough to be digestible without noticeable harm.
