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When you say that a price is too high to clear the market you usually mean what?
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Too high to clear the market?
No producer can cover the costs of production at that price
In a market economy a high price will usually cause?
producers to supply more and consumers to buy less.
Why are price floors and price ceilings posed?
if the market price imposed by suppliers are too high for consumers then the price ceilings are imposed....if the market price is too low for the producers then price floors is imposed.
What sets prices in a perfect market?
market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .
What is the study of economics called?
in a market economy, a high price is a signal for?
Too high to clear the market?
No producer can cover the costs of production at that price
In a market economy a high price will usually cause?
producers to supply more and consumers to buy less.
Why are price floors and price ceilings posed?
if the market price imposed by suppliers are too high for consumers then the price ceilings are imposed....if the market price is too low for the producers then price floors is imposed.
What is the study of economics called?
in a market economy, a high price is a signal for?
What is a high MVP meaning?
MVP: Market Value Price of something...
What sets prices in a perfect market?
market conditions are responsible for price setting, as thing in perfect market are homogeneous, any different product with special feature would have a high price for it .
Are designers sunglasses worth the price?
They are usually made with high quality materials but it does not usually justify the price.
What does Creaming the market mean?
Creaming the market is when a firm or business may charge a very high price for a certain product. The firm will continue to charge a very high price until rival products appear.
What happens to prices when there is a shortage in the market?
The price goes up if the demand is high
Explain the difference between market price and normal price?
Price is the value or worth of a product or service and when you say price then it vehicle the normal price of a product or a service which a company charges. On the other hand, market price is the price of a product or service which is contained by a marketplace and is resulted through market efficiency, equilibrium and normal expectations. Normal price can be lesser, equal or greater than the market price. If most of the companies in an industry charge open market prices for the products or services then competition is high in that specific industry.
What are some of the factors that the market price of a product depends on?
if there is high demand for it but little of the product it will ofcourse go up in price and if there's low demand but a lot of the product the market price will go down dramatically
The practice of setting a high initial price for a new product and then gradually lowering the price over time is known as?
Price skimming. <><><><><> Market adjustment.
