Explain the reasons behind the backwards slopping demand curve.

Q: Explain the factors that could shift the demand curve and the supply curve

A: The demand (dd) for a commodity shows the quantity that the consumers desire to purchase at the…

Q: In 2012, indian technology consultant infosys moved some operations to a site in Georgia. Which of…

A: Quantity demanded and demand: The demanded quantity of any commodity reflects the amount of that…

Q: If Apply temporarily can’t meet demand for a product,should it raise the price to bring supply and…

A: Meaning of Law of Demand and Law of Supply: The law of demand states that other things being…

Q: What happens to the supply curve when prices of factor of production rises

A: Prices of factor of production have a huge role to play in the supply of a commodity. It affects the…

Q: In the last decade, there has been a dramatic expansion of small retail convenience stores (such as…

A: The prices are higher in convenience stores as compared to the large supermarkets because…

Q: In the table below, identify the change in supply or demand. Tick R your answer(s)

A: Demand function in microeconomics traces out the inverse relationship that exist between the price…

Q: Sanford stadium has 90,000 seats. What is the shape of the supply curve for tickets to football…

A: If the stadium has 90,000 seats, the supply for tickets is perfectly inelastic to football games at…

Q: Give examples supply and demand regarding the Chip shortages in the US post covid (paragraphs)

A: Demand and supply in the market makes up the equilibrium of the market.

Q: The situation of zero excess demand and zero excess supply is known as

A: Excess demand simply happens when the market demand > Market supply and the excess supply happens…

Q: Why would demand for steel may decline when demand for aluminum rises? What kind of relationship…

A:

Q: using a supply and demand diagram, explain one possible reason for the increase in copper prices.

A: Supply refers to the quantity of goods or service that a seller is willing and able to sell at a…

Q: In 1997 and 1998, the economy expanded, increasing the demand for labor and pushing up wages. Graph…

A: Equilibrium is achieved in the labor market at the point where the demand for labor is equal to the…

Q: What effect will each of the following have on the supply of auto tires? The levying of a per-unit…

A: Supply: Supply shows the direct relationship between price and quantity supplied. When there is a…

Q: Question 1. The supply and demand for a ball cops are given by p= 0.8n + 2.6 supply equation p=…

A: 1) a) The equation quantity is given by equating demand and supply equation.  0.8n+ 2.6 = -1.2n+9 2n…

Q: price reduction leases to an increase in total revenue demand is

A: Elasticity of demand depicts how much consumer responds with the change in price.

Q: State the assumption of the law of demand

A: Demand: It is one of the two forces of the economy which drives the economy and the market. It is…

Q: The quantity of a certain commodity that is offered for sale at a certain price at a given place and…

A: The answer is - Quantity supplied or supply

Q: Price of Film Streaming Services Supply Demand Quantity of Film Streaming Services Demand According…

A: The graph depicts the demand and supply of film streaming services. The supply curve of film…

Q: A vertical demand curve or supply curve would be called:

A: In a vertical supply or demand, the amount that is being supplied or demanded is fixed and does not…

Q: On the following graph, show the effect of the hike in the price of oil on the market supply of…

A: The hike in the price of oil then the market supply of boats will decrease and the supply curve will…

Q: 9. Give one example of an Elastic Supply product and explain why. Answer:

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: A popular celebrity figure was seen sporting a handbag from Designer X, which caused a significant…

A: demand refers to the quantity that a consumer wises to buy at a given price in given period of tirm

Q: In what direction will the supply curve shift if the prices of the raw materials needed to produce…

A: The positive relationship between the supply and the price of a commodity is depicted on a supply…

Q: General Electric (GE) produces wind turbines that generate wind power. Over the past 10 years, the…

A: A supply curve is a curve that shows the relationship between the price of a good and the services…