If the price of rubber falls, how will that affect the demand for rubber tires?  a) demand will not shift b) demand will shift to the left c)demand will shift to the right  d) Demand shifts depends on the if tires are inferior or normal

Q: If the demand for airline traveling increases,

A: As the demand increases, the demand curve shifts towards right and with the decrease in demand the…

Q: As demand for housing increases, given supply, this will increase the price of housing. Assuming the…

A: Price elasticity of demand is used to calculate the change in quantity demanded or supplied of a…

Q: explain with the help of a diagram how new technology might change the elasticity of supply of new…

A: The effect of the technology on the elasticity can be explained as follows :  Elasticity of Supply :…

Q: If the cross price elasticity of demand for grommets and widgets is negative, then

A: Cross elasticity of demand is referred to be as a tool which calculates how the change in price of…

Q: ‍If the own-price elasticity of demand is -5 and there is a 2% increase in the price, by what…

A: The price elasticity of demand measures the responsiveness of the quantity demanded of a good to a…

Q: what are Factors affecting the demand of gasoline

A: Demand for Gasoline Gasoline is a generally inelastic product, which means that price fluctuations…

Q: instead of a decrease and it was an increase instead of a decrease; would that mean that the demand…

A: Normal goods are goods that people demand more of when their income increases. This is because…

Q: Which term describes the situation where the quantity supplied exceeds the quantity demanded at a…

A: A surplus happens when the quantity supplied is greater than the quantity demanded at a certain…

Q: Draw a supply and demand graph for new cars. Show the impact that the 2008-09 recession (with the…

A: Demand is the quantity of a product or service that consumers are willing and able to buy at a given…

Q: What effect does the availability of many substitute have on the elasticity of demand for a good

A: Meaning of Price Elasticity of Demand: The term price elasticity of demand refers to the…

Q: When the number of Substitutes are more than that good will have what kind of demand?

A: # Substitute goods are those goods which can be used at place of one other. For example pepsi and…

Q: Price per Pound (dollars) $16 14 12 10 8 6 4 2 Quantity of Cheese Demanded (pounds) between $14 and…

A: Price elasticity is calculated as the percentage change in quantity demanded divided by the…

Q: How would you expect the elasticity of demand for each of the following products to compare with the…

A: Disclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only…

Q: The table shows information on the conditions of demand for ordinary gummy bears and their…

A: The elasticity of demand:Elasticity is defined as the responsiveness to change in one variable. When…

Q: How will the elasticity of demand be affected in the following cases? A. More substitutes become…

A: A good price elasticity of demand is a proportion of how delicate the amount requested is to its…

Q: What implications does the nature of the supply of agricultural products have for own-price…

A: Supply: It refers to the quantity of a commodity that producer is willing and able to supply at…

Q: When demand is price inelastic, ceteris paribus:  a) A rise in price leads to lower total revenue…

A: Price elasticity of demand is the responsiveness of quantity demanded to changes in price. It shows…