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What is the tendency of suppliers to offer more of a good at a higher price?
The law of supply. This theorem reflects the usual assumption that cost functions satisfy Innada conditions.
What is persistent in economics?
Persistent dumping is a tendency of a domestic monopolist to charge a higher price in a country as compared to the international price.
What is persistent dumping in economics?
Persistent dumping is a tendency of a domestic monopolist to charge a higher price in a country as compared to the international price.
Suppliers have an incentive to increase output when price is higher than cost of production .true or false?
true
Law of supply?
The law of supply is the tendency of suppliers to offer more of a good at a higher price. There is direct relationship between the price of a commodity and its quantity offered for sale over a specified period of time. When the price of a goods rises, other things remaining the same, its quantity which is offered for sale increases as and price falls, the amount available for sale decreases. This relationship between price and the quantities which suppliers are prepared to offer for sale is called the law of supply. Formula for Law of Supply: QxS = Φ (Px Tech, Si, Fn, X,........) Qxs = Quantity supplied of commodity x by the producers. Φ = Function Px = Price of commodity x. Tech = Technology. S = Supplies of inputs. Fn = Features of nature. X = Taxes/Subsidies. Where Tech, Si, Fn and X are constant
What is the tendency of suppliers to offer more of a good at a higher price?
The law of supply. This theorem reflects the usual assumption that cost functions satisfy Innada conditions.
What is the tendency of a supplier offer more goods at a higher price?
Law of Supply
What is the tendency of supplier to offer more of a good at a good higher price?
The law of supply. This theorem reflects the usual assumption that cost functions satisfy Innada conditions.
What is persistent in economics?
Persistent dumping is a tendency of a domestic monopolist to charge a higher price in a country as compared to the international price.
What is persistent dumping in economics?
Persistent dumping is a tendency of a domestic monopolist to charge a higher price in a country as compared to the international price.
Suppliers have an incentive to increase output when price is higher than cost of production .true or false?
true
List of causes of unfavorable direct material price variance?
1.rise in price. if price will be higher than the budgeted price then unfavourable 2.shortage of suppliers. this led to increase in price
Law of supply?
The law of supply is the tendency of suppliers to offer more of a good at a higher price. There is direct relationship between the price of a commodity and its quantity offered for sale over a specified period of time. When the price of a goods rises, other things remaining the same, its quantity which is offered for sale increases as and price falls, the amount available for sale decreases. This relationship between price and the quantities which suppliers are prepared to offer for sale is called the law of supply. Formula for Law of Supply: QxS = Φ (Px Tech, Si, Fn, X,........) Qxs = Quantity supplied of commodity x by the producers. Φ = Function Px = Price of commodity x. Tech = Technology. S = Supplies of inputs. Fn = Features of nature. X = Taxes/Subsidies. Where Tech, Si, Fn and X are constant
What doas Out Bid mean?
Offer higher price
Suppliers and consumers are affected by any change in the price of a good or service the price change is a?
The price change is a signal that affects supply and demand dynamics in the market. When prices rise, suppliers may increase production to capitalize on higher potential profits, while consumers may reduce their demand or seek alternatives. Conversely, a price drop may lead to decreased production from suppliers and increased consumption from buyers. This interaction highlights the interconnectedness of suppliers and consumers in response to price fluctuations.
How does the price of a product or service affect its supply?
The price of a product or service directly influences its supply. When the price of a product or service increases, suppliers are more willing to produce and sell more of it to take advantage of the higher profits. This leads to an increase in supply. Conversely, if the price decreases, suppliers may reduce production or supply, as it may not be as profitable for them.
How do suppliers react to price change?
Suppliers typically react to price changes based on their cost structures and market conditions. If prices increase, many suppliers may boost production to capitalize on higher potential profits, assuming demand remains steady. Conversely, if prices decrease, suppliers might cut back on production or seek cost-saving measures to maintain profitability. Additionally, suppliers may adjust their supply strategies based on the perceived long-term sustainability of the price change.
