-_- answer it yourself dork
When the price of a good or service increases, the demand for it usually decreases.
The relationship between price and demand for a Giffen good is unique because as the price of the good increases, the demand for it also increases. This is contrary to the law of demand, where an increase in price leads to a decrease in demand.
It does not. If you follow the demand curve it shows that as price decreases, demand increases.
High Demand Lowers QuantityLow Demand increases price and quantity
Demand is inelastic when changes the in price of a commodity do not effect (or have very little effect) the quantity of that product demanded. For most commodities, demand decreases with price increases and demand increases with price decreases.
When the price of a good or service increases, the demand for it usually decreases.
The relationship between price and demand for a Giffen good is unique because as the price of the good increases, the demand for it also increases. This is contrary to the law of demand, where an increase in price leads to a decrease in demand.
It does not. If you follow the demand curve it shows that as price decreases, demand increases.
High Demand Lowers QuantityLow Demand increases price and quantity
Demand is inelastic when changes the in price of a commodity do not effect (or have very little effect) the quantity of that product demanded. For most commodities, demand decreases with price increases and demand increases with price decreases.
If the demand for ethanol increases the price will also increase.This is based on price elasticity of demand.
If the price of a complementary good increases, the demand for the main product will decrease.
When price increases by 1%, demand falls by 3%.
In economics, the law of demand states:- As the price of a good or service increases, the demand for that good or service will decrease.- As the price of a good or service decreases, the demand for that good or service will increases.
supply will decrease and price will rise greatly
If the price of a complementary good increases, the demand for the main good typically decreases.
As price (on the horizontal) increases, demand (on the vertical) will decrease.