Explain with the help of a graph how production and consumption of cloth are affected when the relative price of cloth increases

Q: the combination of generous stimulus payments and the extremely successful Covid vaccination…

A: As the combination of generous stimulus payments and the extremely successful Covid vaccination…

Q: The following graph shows the market for pizzas in Montreal, where there are more than a thousand…

A: The markets are the place which assist in the allocation, and distribution of resources, assets,…

Q: Which of the following may lead to a rise in the equilibrium price of iPhones and a fall in the…

A: Goods can be divided into substitute goods, complementary goods or they can be unrelated. Two goods…

Q: What do you mean by the demand of a commodity?   a) Desire for the commodity   b) Need for the…

A: In economics, the term demand refers to the quantity of a good or service that consumers are willing…