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When the price of apples goes up, the demand for apples typically decreases, following the law of demand. Consumers may seek substitutes or reduce their consumption of apples due to the higher price. However, the extent of this decrease can vary based on factors such as the availability of alternatives and consumers' preferences.
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What happens when price goes up in elasticity of demand?
demand goes down
What happens to price when there is excess demand?
then the price goes up
What happens when supply increase and demand decrease?
The price goes down.
What happens to the price when there is an excess supply of products?
The price goes down because of supply and demand.
What happens after the demand for a fad drops?
The price goes down, and the quantity supplied goes up
What happens when price goes up in elasticity of demand?
demand goes down
What happens to price when there is excess demand?
then the price goes up
What happens when supply increase and demand decrease?
The price goes down.
What happens to the price when there is an excess supply of products?
The price goes down because of supply and demand.
What happens after the demand for a fad drops?
The price goes down, and the quantity supplied goes up
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
What happens to the equilibrium price when demand increases and supply decreases?
It goes up
What usually happens to the price of a good when the demand for it is higher than the supply available?
What ever the demand is it's scarce
What happens first when the demand for a fad peak and falls?
The price goes down, and the quantity supplied goes up
What generally happens to a quantity demanded when the price of a good goes up?
quantity demand decreases
What are the reasons for negative relationship between price and quantity demanded?
Price and demand have an inverse relationship. Therefore, if the price goes up, the demand goes down; the price goes down, the demand goes up.
What happens to the price of an object when the demand is high?
The first basic law of supply and demand is: If demand increases and supply remains unchanged, a shortage occurs, leading to a higher equilibrium price. So the price goes up.
