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When According to the law of supply as the price rises for a good?
Wiki User
∙ 7y ago
supply must go up
Wiki User
∙ 12y ago
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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.
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.
Is luxuries a normal good?
yes it is a normal good . because price rises, demand also rises subject to condition that income rises
