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What usually happens to the demand for a good or service when the price increases?
When the price of a good or service increases, the demand for it usually decreases.
What happens to the demand for the main good if the price of a complementary good increases?
If the price of a complementary good increases, the demand for the main good typically decreases.
According to Adam Smith what happens when the supply of a good decreases?
The price increases-
What usually happens to the price of a good when the demand for it is higher than the supply available?
What ever the demand is it's scarce
Will the supply of a good be more elastic if the price of the good increases?
Yes, the supply of a good will be more elastic if the price of the good increases.
What happens when demand for a good increase but it's supply decrease?
The price for the good increases
What usually happens to the demand for a good or service when the price increases?
When the price of a good or service increases, the demand for it usually decreases.
What happens to the demand for the main good if the price of a complementary good increases?
If the price of a complementary good increases, the demand for the main good typically decreases.
According to Adam Smith what happens when the supply of a good decreases?
The price increases-
When the price of a capital good increases what happens to the price of related consumer goods and services?
Prices increase due to the increase in production costs.
What usually happens to the price of a good when the demand for it is higher than the supply available?
What ever the demand is it's scarce
Will the supply of a good be more elastic if the price of the good increases?
Yes, the supply of a good will be more elastic if the price of the good increases.
What happens to price if supply increases?
Supply will increase.
What happens when the price of a complementary good increases and how does it impact the demand for the main product"?
When the price of a complementary good increases, the demand for the main product typically decreases. This is because consumers are less likely to purchase the main product if they also have to pay more for the complementary good that goes along with it.
If supply increases and demand is constant price will what?
In the short run nothing happens to price
What happens when the price of item a increases?
the supply of the item will decrease
What happens when the price of movie tickets increases?
You have to pay more.
