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Which of the following best defines the law of supply?
As the price of a good rises, the amount of the good supplied rises.
Which relationship is the BEST example of the Law of Supply?
The quantity of a good supplied rises as the price rises.
What is the price elasticity of supply when the quantity supplied of a good rises from 120 to 140 as prices rise from 4 to 5.50?
the quantity supplied of a good rises from 120 to 140 as price rise from 4 to 5.50. what is the price elasticity of supply?
What will happen to the equilibrium price and quantity of a normal good if the demand for the good increases and supply constant?
the equilibrium price rises and the quantity increases
What the price of good X rises the demand for good Y falls?
The mechanism is call "The Supply and Demand Curve"
Which of the following best defines the law of supply?
As the price of a good rises, the amount of the good supplied rises.
Which relationship is the BEST example of the Law of Supply?
The quantity of a good supplied rises as the price rises.
What is the price elasticity of supply when the quantity supplied of a good rises from 120 to 140 as prices rise from 4 to 5.50?
the quantity supplied of a good rises from 120 to 140 as price rise from 4 to 5.50. what is the price elasticity of supply?
What will happen to the equilibrium price and quantity of a normal good if the demand for the good increases and supply constant?
the equilibrium price rises and the quantity increases
What the price of good X rises the demand for good Y falls?
The mechanism is call "The Supply and Demand Curve"
What goods the example of unitary elasticity supply?
Unit elastic supply basically means that if price of a good rises, the supply of that good will rise an equal amount. A good example of his would be tomatoes.
What happens when the price of a good drops?
Supply & Demand, EconomicsEconomic studies tell us that when the price of a good drops, demand will rise. Furthermore, when the price of a good rises, demand will go down.
What will happen when the price of goods drop?
Supply & Demand, EconomicsEconomic studies tell us that when the price of a good drops, demand will rise. Furthermore, when the price of a good rises, demand will go down.
What are the two conditions of supply?
The two conditions of supply are the willingness and ability of producers to sell a good or service at a given price in a specific market. The quantity supplied increases as the price of the good rises, demonstrating the positive relationship between price and quantity supplied.
According to the law of supply What does an increase in the price of a good service or resource lead to an increase in?
Supply. If you are a supplier of a good - the price for your good increase - you will produce more to take advantage of this
According to Adam Smith what happens when the supply of a good decreases?
The price increases-
What happens when inflation falls?
Supply & Demand, EconomicsEconomic studies tell us that when the price of a good drops, demand will rise. Furthermore, when the price of a good rises, demand will go down.
