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What would have no effect on the demand for motorcycle?
A change in the cost of steel.
Explain how a competitive profit-maximizing firm decides how much of each factor of production to demand?
A competitive profit-maximizing firm determines the quantity of each factor of production to demand by equating the marginal product of each factor to its marginal cost. The firm will continue to hire more of a factor as long as the additional revenue generated from that factor (marginal product times the price of the output) exceeds its cost. This process ensures that the firm utilizes resources efficiently to maximize profits. Ultimately, the firm adjusts its factor inputs until the marginal cost of each factor aligns with the added value it produces.
What is the Cost effect of a price change?
The cost effect of a price change refers to how alterations in the price of a good or service impact consumer purchasing behavior and overall market demand. When prices increase, consumers may reduce their quantity demanded or switch to substitutes, leading to a decrease in total revenue for the seller if the demand is elastic. Conversely, a price decrease can stimulate demand, potentially increasing total revenue if the demand is also elastic. Ultimately, the cost effect highlights the interplay between price changes, consumer behavior, and market dynamics.
How does the cost of resources effect supply?
If the cost to make a thing increases the price of the thing, then there might be less demand. If there is less demand, then there will be a buildup of inventory. Over time, fewer suppliers will make the good and the supply will decrease from over supply to a lower equilibrium point.
What are factor determine demand curve?
Demand influences supply. When there is high demand for items, supply is lower, thus increasing the cost. When there is low demand, supply is high, thus decreasing costs.
What is the effect of load factor and diversity factor on cost of generation in a power station?
Load factor effects the cost of generation. Higher the load factor higher will be the average load. So no. of units generated for a given period of time for the same max. demand will be more. Therefore, overall cost per unit of electrical energy decreases due to distribution of standing charges which are proportional to the max. demand and independent of units generated. Diversity factor effects the cost of generation. More is the diversity lesser will be max. demand due to which installation capacity of plant will be less. Lesser is the installation capacity lesser will be the capital required for installation. So lesser will be generation cost. And the fixed charges in the tariff would be less.
How improve load factor?
Ratio of Average load to Maximum demand for a given period (for a day, month or year) is termed as Load factor or Plant Load Factor (PLF). Load Factor = Avg. Load*24/Max Demand*24 ......... For a Day. This Load factor is very important in the sense of calculating the overall generation cost. It is always less than 1. Higher the LOAD FACTOR of a power station,lesser the overall per unit generation cost of the power station.
What would have no effect on the demand for motorcycle?
A change in the cost of steel.
What are the factor of rising cost of product?
Supply and demand are the most important factors in the rising cost of a product.
How much does it cost to rent a 1500 sqftstore in monthly payment?
The cost to rent a 1500 squarefoot store in terms of monthly payment will depend on location and demand. The location of the building is a major factor because property prices are driven by demand in the area. A person's credit may also effect how much a monthly payment would be required.
What is the effect of power factor on the cost of generation?
The effect of low (or 'poor') power factor is that a given load requires more load current than at high power factors. So, to accommodate these higher currents, a greater volume of copper is required in the supply cables, switchgear, transformers, etc. So much greater capital costs are required if low power loads are supplied.
Explain how a competitive profit-maximizing firm decides how much of each factor of production to demand?
A competitive profit-maximizing firm determines the quantity of each factor of production to demand by equating the marginal product of each factor to its marginal cost. The firm will continue to hire more of a factor as long as the additional revenue generated from that factor (marginal product times the price of the output) exceeds its cost. This process ensures that the firm utilizes resources efficiently to maximize profits. Ultimately, the firm adjusts its factor inputs until the marginal cost of each factor aligns with the added value it produces.
What is the Cost effect of a price change?
The cost effect of a price change refers to how alterations in the price of a good or service impact consumer purchasing behavior and overall market demand. When prices increase, consumers may reduce their quantity demanded or switch to substitutes, leading to a decrease in total revenue for the seller if the demand is elastic. Conversely, a price decrease can stimulate demand, potentially increasing total revenue if the demand is also elastic. Ultimately, the cost effect highlights the interplay between price changes, consumer behavior, and market dynamics.
How prescription drugs affect the demand and supply of other products and services in this country?
The cost, supply and demand can have a direct effect on herbal remedies, and natural foods and supplements. As the cost of prescription drugs rises, more people will turn to alternatives, driving demand for those items.
What is the importance of load factor in power system planning?
load factor is the ratio of average load to max demand for a given period.High load factor meansless cost per KWHmore efficient use of power plant
How does the cost of resources effect supply?
If the cost to make a thing increases the price of the thing, then there might be less demand. If there is less demand, then there will be a buildup of inventory. Over time, fewer suppliers will make the good and the supply will decrease from over supply to a lower equilibrium point.
What are factor determine demand curve?
Demand influences supply. When there is high demand for items, supply is lower, thus increasing the cost. When there is low demand, supply is high, thus decreasing costs.
