If demand decreases and supply is constant, the price will increase.
prices will fall if demand decreases and the supply is constant. the supply curve will be vertical and demand curve will be downward sloping.
utility is not constant along the demand curve
If the supply decrease and demand is constant, it will result into higher prices for the good. Ideally, this will automatically make the demand higher than market supply which creates scarcity.
No. If demand rises, then supply falls. Transveresly, if demand falls, then supply rises.
non price determinants of demand are held constant
If demand decreases and supply is constant, the price will increase.
Holding cost per unit * Average Demand Average Demand= 1/2 * Annual Demand
prices will fall if demand decreases and the supply is constant. the supply curve will be vertical and demand curve will be downward sloping.
Price will increase, quantity will decrease
utility is not constant along the demand curve
If the supply decrease and demand is constant, it will result into higher prices for the good. Ideally, this will automatically make the demand higher than market supply which creates scarcity.
No. If demand rises, then supply falls. Transveresly, if demand falls, then supply rises.
Tourists consume/buy the country's products, demand goes up and naturally supply(GDP) follows holding all other things constant.
When supply shifts to the right and demand remains constant then there will be an excess of product. Prices for the product will fall as well.
Inelastic
explain why the price elasticity of demand varies along a demand curve, even if the demand curve is linear.