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What is a producer's best guess at the future price of a good called?
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What is the price at which the quantity demanded by consumers will equal the quantity supplied by producers is called what?
It is called the equilibrium price.
How do future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectation about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
Which of these statements refers to the law of supply?
producers will supply as the good price Producers will supply more of a product as the price goes up. A+
In what two ways could producers react to reduce a surplus of crude oil?
Producers could reduce the price of oil to remove the surplus of crude oil. They could also form a cartel to adjust production to eliminate the chance of future surpluses. Thanks ChaCha!
Which is the price at which the quantity demanded by consumers will equal the supplied by producers called?
It is called the equilibrium price.
What is the price at which the quantity demanded by consumers will equal the quantity supplied by producers is called what?
It is called the equilibrium price.
What is the price at which quantity demanded by consumers will equal the quantity supplied by producers called?
It is called the equilibrium price.
What is the price at which the quantity demand by consumers will equal the quantity supplied by producers called?
It is called the equilibrium price.
How do the future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectations about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
How do future expectation about the price of a good affect the present supply?
If the price is expected to increase, many producers will hold onto their supply.
What is the price at which the quantity demanded by consumers will equal the quantity supplied by producers calle?
It is called the equilibrium price.
Which of these statements refers to the law of supply?
producers will supply as the good price Producers will supply more of a product as the price goes up. A+
What word means the amount producers will make for a certain price?
Price
What word means the amount of producers will make for a certain price?
Price
In what two ways could producers react to reduce a surplus of crude oil?
Producers could reduce the price of oil to remove the surplus of crude oil. They could also form a cartel to adjust production to eliminate the chance of future surpluses. Thanks ChaCha!
