In which of the following situations would the price of a good be most likely to increase? An increase in production costs results from a rise in wages. A rise in demand happens too quickly for producers to increase production

20,701 results
  1. Economics

    17. The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good is -1. When the price of the good drops by 10% to $18, consumer surplus: Increases or decreases by $__?

  2. Microeconomics

    Suppose that the price of product X rises by 20 percent and the quantity supplied of X increases by 15 percent. The coefficient of price elasticity of supply for good X is?

  3. Macroeconomics

    As an example of a price index, consider the A.C.D.P.I. (a fictitious price index). The associated basket of goods is: Good Price Coffee $8/lb. Bread $1/loaf Tea $15/lb. Aspirin $2/bottle Cola $6/case A. If the price of coffee doubles, what is the

  4. economics

    Two goods are complements when a decrease in the price of one good a. decreases the quantity demanded of the other good. b. increases the quantity demanded of the other good. c. increases the demand for the other good. d. decreases the demand for the other

  5. Micro Economics

    A nation's production possibilities curve is "bowed out" from the origin because a. resources are not equally efficient in producing every good c. resources are scarce d. wants are virtually unlimited . John has a paper route and spends all his weekly

  6. economics

    In which of the following situations would the price of a good be most likely to increase? An increase in production costs results from a rise in wages. A rise in demand happens too quickly for producers to increase production to keep up. A breakthrough in

  7. economics

    Suppose the market demand for good A given by Qd= 300 -20 P and the market supply for Good A is given by Qs=20P-100,where P=price of Good A. Q;Graph the supply and demand schedules for Good A using P5 through P15 as the value of P. Q; In equilibrium, how

  8. Econ MC

    When goods are not excludable a. the good will be produced as a private good but not as a public good. b. the good will not be produced since no one values it. c. the free-rider problem prevents the private market from supplying them. d. everyone can have

  9. SS

    What is the main purpose of a market? a. to allow people to exchange goods and services b. to set prices for goods and services c. to help producers get human resources d.to increase competition between buyers and sellers A A relative price compares

  10. Economics

    When XYZ firm entered the market for good two years back, it kept the price of its product low to attract customers away from its leading competitor. The firm has now established itself and has a market share of 20 percent. The management of XYZ is is

  11. maths

    a man marks his good at a price that would give him 20% profit. he sells 3/5 of the goods at the marked price and sells the remaining at 20% discount. find his gain % on the whole transaction.

  12. acounnting

    9. The materials price variance reveals the difference between ____________________. (Points : 1) the price paid for materials and the quantity of materials used the quantity of materials used and the quantity of materials allowed for good output none of

  13. Social Studies

    According to the law of demand, low prices serve mostly as a ________ for buyers. a) supply b) reward c) substitute d) penalty Is it b? In economics, what is a substitute? a) a good or service that is more expensive than the one the buyer first wanted b) a

  14. Econ

    In which of the following circumstances would a buyer be indifferent about buying a good? a. The amount of consumer surplus the buyer would experience as a result of buying the good is zero. b. The price of the good is equal to the buyer's willingness to

  15. Economics *Micro

    If the price of a good is low, a. firms would increase profit by increasing output. b. the supply curve for the good will shift to the left. c. the quantity supplied of the good could be zero. d. firms can and should raise the price of the product.

  16. AP Macroeconomics

    1. As an example of a price index, consider the A.C.D.P.I. (a fictitious price index). The associated basket of goods is: Good Quantity Price Coffee 3 lb $8/lb Bread 3 loaves $1/loaf Tea 1 lb $15/lb Aspirin 1 200-tablet bottle $2/bottle Cola 1 case $6/case

  17. Economics

    The price received by sellers in a market will decrease if the government Answer A. imposes a binding price floor in that market. B. decreases a binding price ceiling in that market. C. decreases a tax on the good sold in that market. D. increases a

  18. AP Macroeconomics

    Assume that the mix of goods in a basket is kept constant for long periods. If the price of one good rises very rapidly over several years, what will happen to the relative importance of the other goods in the basket? Is this a problem? If the price of

  19. English writing a concluding paragraph

    My essay is about conformity and rebellion. I need a really good conclusion. My intro is this: In life there will be certain situations in which we will have to stay in order or choose to make our decisions ourselves. For example there will be times when

  20. eco

    Good X and good Y are substitutes. If the price of good Y increases, then the

  21. economics math

    Consider the problem of a rational consumer with an experienced utility function given by 10ln(x)+m and a wealth level W=100. Suppose that the market price for good x is p=$2 per unit. You are asked to analyze the impact on the consumer's demand of the

  22. econ

    If the price of a good increases, what happens to demand? If the price of a good decreases, what happens to supply? Does a change in price create curve shifts? Use Appendix C

  23. managerial economics

    A firm offers two differentiated products, X and Y and faces two types of consumers, types A and B. There are equal numbers of each type of consumers ¡V so, for simplicity, assume there is just one of each type. The valuations of the two types of

  24. Microeconomics

    Using the information below answer the following questions. If demand is :Qd = 400.00 - 15.00P and Supply is: Qs = 50.00 + 15.00P Where: Qd = quantity of the good demanded. Qs = quantity of the good supplied. P = price of the good. Part 1: The equilibrium

  25. Econ MC

    Externalities cause markets to a. fail to allocate resources efficiently. b. cause price to be different than the equilibrium price. c. benefit producers at the expense of consumers. d. cause markets to operate more equitably. I think the answer is a)?? I

  26. Microeconomics

    This is a 5 part question; (a-e)The question reads: Suppose that a market is described by the following supply & demand equations: Qs=2P & Qd=300-P a) Solve for the equalibrium price & quantity. (I think I understand this process.) b)Suppose that a tax of

  27. Economics: Price Elasticity

    Please check my answers whether they are correct or not. If not, please help me why they are wrong. Thank you. Question 1: Point: A (300, 1000) Point B: (200, 1200) According to the midpoint method, the price elasticity of demand for hot dogs between point

  28. Managerial Economics

    Given the demand & supply Function for product 'x' at california university have been estimated as: Qd= 5000- 4 (price)+ 0.2 (pop) Qs=-300 +5 (price)+ 0.5 (wage rate) i) determine the equilibrium price & quantity of product X. ii) Derive the demande &

  29. Check+Business

    Indicate whether the market price of a product will most likely go up or down in the following situations and why: a) There is a drought in the Midwest (bushel of wheat) My answer: Go up, becuase the supply is limited b)Strawberries are in season with a

  30. MATHEMATICS Please help me

    The demand function for a good is q = 56.6 − 0.25p − 0.03m + 0.45ps + 0.6n where q is the quantity demanded per week, p is the price per unit, m is the average weekly income, ps is the price of a competing good and n is the population in millions.

  31. managerial economics

    A firm offers two differentiated products, X and Y and faces two types of consumers, types A and B. There are equal numbers of each type of consumers ¡V so, for simplicity, assume there is just one of each type. The valuations of the two types of

  32. managerial economics

    A firm offers two differentiated products, X and Y and faces two types of consumers, types A and B. There are equal numbers of each type of consumers ¡V so, for simplicity, assume there is just one of each type. The valuations of the two types of

  33. CALCULUS ECONOMICS

    Consider the problem of a rational consumer with an experienced utility function given by 8x√+m. Let p=$1 p/unit denote the market price of good x. Suppose that, initially, the firm selling the good matches his purchases as follows: for every x units

  34. economics

    Consider the problem of a rational consumer with an experienced utility function given by 8√x+m. Let p=$1 p/unit denote the market price of good x. Suppose that, initially, the firm selling the good matches his purchases as follows: for every x units

  35. CALCULUS ECONOMICS

    Consider the problem of a rational consumer with an experienced utility function given by 8*x^(1/2)+m. Let p=$1 p/unit denote the market price of good x. Suppose that, initially, the firm selling the good matches his purchases as follows: for every x units

  36. equilibrium effects

    . Consumers are named using real numbers, x, between 0 and 1. Each consumer is interested in buying at most one unit of a good. The reservation price that consumer x has for this good when fraction z of the population buys the good is given by r(x)f(z)

  37. Economics

    How does the market price of a good in a monopoly market compare with the market price of the same good in a perfectly competitive market? A. The price is higher. B. The price is lower. C. The prices cannot be compared. D. The prices are the same.

  38. 3 Questions

    I have three True/False questions. If they are false, please explain why. It is due Monday. 1. A shift in supply causes the price of a good to rise. The shift must have been an increase in supply. I think this is True. 2. The price of good X rises. This

  39. Economic

    The market for Good X can be depicted with the following demand and supply equations: Demand: P = 50 – 1/2Q Supply: P = 1/3Q Where P is price per unit and Q represents quantity in units. Policy makers plan on imposing a $1 per unit tax on this good.

  40. Algebra

    I have just one math problem that I need a little help with. Please give me the answer, and walk me through it, too, to help me understand it. Thanks! The price of a ring is decreased by 40% and the resulting price is increased by 50%. The final price is

  41. economics

    suppose the demand curve for a product is given by Q=10-2P+Ps1,where P is the price of the product and Ps is the price of a substitute good. the price of the substitute good is $2.00. a)suppose P=$1.00, what is the price elasticity of demand?what is the

  42. Microeconomics

    For each of the following situations for the egg market, describe what the impact on the equilibrium price and equilibrium quanity would be. 1-A sureon general warns that high-cholesterol foods cause heart attacks. - This would cause the price to drop and

  43. economics

    Assuming a simple linear market demand curve for good X, explain the relationship between price, total and marginal revenues, and elasticity of demand. Using your answer, explain why might a revenue-maximizing firm selling a luxury good reduce its product

  44. Math/Algebra

    At Gwen's garage sale, all books were one price, and all magazines were another price. Harriet bought four books and three magazines for 1.45, and June bought two books and five magazines for 1.25. What was the price of a book and what was the price of a

  45. Math

    Can someone please check to see if I got these right. A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? $492.20 $519.82 $533.33 $612.00 Answer: $533.33 A merchant buys a good for $275. Their store's

  46. Econ T/F

    yes, its a true or false question is this a true or false question? Suppose that after a price change, the income effect is zero, but the substitution effect is not. For such a good, the quantity demanded is directly related to its price. oh well I think

  47. economics

    Median income in a country rises by $5000 per year. The price of good X falls by $4. Quantity demanded for good x falls by 15,000 units per year. What can we say with good X?

  48. Ethics

    Identify and describe which, if any, of these creation and consequence situations the group has faced: This is quite vague. What group? What creation situations? What consequence situations? You'll need to clarify a great deal. ?? a subordinate group. I

  49. Econ

    In the case of a negative externality: Select one: a. the private market does not produce enough of the good. b. market price reflects the social costs of production. c. efficiency requires that the government impose a subsidy. d. market price reflects

  50. Statistics

    Should companies use the same confidence interval each time a confidence interval is determined or should the level change based on situations? If it changes based on situations, what type of situations might call for higher confidence levels?

  51. Essay

    what does it mean to give up? are there situations where that's okay. are there situations where giving up is not possible. my teacher told me to write a paragraph about this... can someone please help me!!!! :)

  52. ethics

    Are there any situations in business that are legal but unethical? Can you think of any situations that are ethical but illegal

  53. maths

    Suppose that the demand function for a good is qD(p) = 8000/((p^2) + 1) where q is the quantity and p is the price in dollars. If the price is decreased from 9 to 8.5, what is the approximate increase in the quantity sold?

  54. Math

    In economics, the demand for a product is the amount of that product that consumers are willing to buy at a given price. The quantity demanded of a product usually decreases if the price of that product increases. Suppose that a company believes there is a

  55. Help me with this question!!!!!!!!!

    How are advertisements influential to adults (18+ or 21+)? So far, I have that they worry how much the product cost, so if they see something on sale, they would buy it. In other words, price matters (Is this point good or weak?) I need one more good point

  56. Math

    I am having ahard time solving this problem and am not good with story problems, could someone please help. Can you show how you would write out problem. The average price of an acre of U.S farmland was $1132 in 2001. In 2006, the price of an arce rose to

  57. Economics

    An increase in the price of a good A.increases the opportunity cost of consuming the good. B. decreases the opportunity cost of conusming the good. C. does not effect the oppurtunity cost of consuming the good. D. increases the opportunity cost of other

  58. Health

    What is stress management? A. Controlling and reducing the tension that occurs in stressful situations B. Controlling and reducing the tension that occurs in peaceful situations C. Controlling and reducing the happiness that occurs in peaceful situations

  59. health

    What is stress management? A. Controlling and reducing the tension that occurs in stressful situations B. Controlling and reducing the tension that occurs in peaceful situations C. Controlling and reducing the happiness that occurs in peaceful situations

  60. health

    What is stress management? A. Controlling and reducing the tension that occurs in stressful situations B. Controlling and reducing the tension that occurs in peaceful situations C. Controlling and reducing the happiness that occurs in peaceful situations

  61. Health

    What is stress management? A. Controlling and reducing the tension that occurs in stressful situations B. Controlling and reducing the tension that occurs in peaceful situations C. Controlling and reducing the happiness that occurs in peaceful situations

  62. math

    I have to answer the question: "why are inequalities a more realistic way to model situations than equations" and am having trouble with this. One reason I thought about is because inequalities are more applicable to real life situations. But other than

  63. microeconomics

    For each of the following scenarios, decide whether you agree or disagree and explain your answer. a. If the elasticity of demand for cocaine is −.2 and the Drug Enforcement Administration succeeds in reducing supply substantially, causing the street

  64. Economics

    The current price for a good is ​$20​, and 100 units are demanded at that price. The price elasticity of demand for the good is negative 2. When the price of the good drops by 10 percent to ​$18​, consumer surplus A. Increases B. Decreases by _ ?

  65. Economics

    The Own price elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this good will change if : the

  66. business

    Negative power is primarily associated with A. voluntary exchange relationships. B. situations in which an individual is forced to change. C. situations in which both parties to an exchange feel good about it. D. exchange relationships in which involuntary

  67. Microeconomics

    Consider Good E, which, when sold in a particular country, has an equilibrium price = $10.00. The government of that country decided that it doesn’t like that equilibrium price, and so passes a law which prevents the product from selling for $10.00.

  68. Economis

    I have got an economics questions, and i did my personal revision by tying to work the question. here is the question: using demand and supply analysis, explain the influence of the imposition of a maximum price and a minimum price on a product on price

  69. Economics

    Market analysts often use cross-price elasticities to determine a measure of the “competitiveness” of a particular good in a market. How might cross-price elasticities be used in this manner? What would you expect the cross-price elasticity coefficient

  70. demand & Supply

    If the demand for butter rises by 4% while the price of margarine rises by 8%, then calculate the cross price elasticity of demand of butter with respect to the price of margarine? The formula for the cross-price elasticity is (%change in Qa)/(%change in

  71. Economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good? (b) A $1 excise tax is imposed on the good. What will be the long-run

  72. English

    You can buy fashionable shoes at a good price. (Is 'at a good price' an adjective phrase modifying 'shoes'? Or is 'at a good price' an adverbial phrase modifying 'buy'?)

  73. microeconomics

    If the technology for producign a good improves and at the same time,the price of a substitute good falls, then the quantity bought and sold of the first good will increase. True, False, or Uncertain. Explain. Take a shot. Hint: draw existing supply and

  74. Int. ECO

    1. Suppose just trade determines the strength of a currency. A country imports Good I and exports Good X. Because of international conditions, the price of Good I has risen 25%, while the country’s domestic production of Good I has stayed the same. The

  75. multiple choice economics

    How does a person’s perception of a good as a necessity or a luxury affect his or her purchase of it? A. If a good is perceived as a luxury, demand becomes elastic. B. People who have a lot of money will buy goods even if they think they are a luxury. C.

  76. Math

    Mamta allow 4% discount on the marked price of her good and still earns a profit of 20% . What is the cost price of a shirt for her marked at 850?

  77. Economics

    How does a persons perception of a good as a neccessity or a luxury effect his or her purchase of it? A. people who have alot of money will buy goods even if they think they are a luxury. B. a good that is perceived as expencive will no longer be

  78. Economics

    1.) How do producers use market research to help maximize profits? 2.) Give two examples of companies that are characterized by a monopolstic competition market structure. All kinds of market research are being done these days. Research on consumer

  79. managerial economics

    1. JQ sells ties and currently has sales of 1,200 units a month, producing a revenue of £36,000. It competes with KR, who is now considering a price cut of 25%. The PED for JQ is –1.5 and the CED between the two products is 0.8. a) Calculate the effect

  80. Macroeconomics

    How do you calculate the nominal GDP and the real GDP of something? I know the formula for GDP is y=c+I+G+NX but in a problem like an economy produced this many of good#1 and this many of good#2 last year. The price of each good #1 was $8 last year, and

  81. math

    Good afternoon!I'm homeschooled so they only give us workbooks and ect. They explain how to do the problems but it confuses me. Here is 1 out of the 5 q's I don't get. A printer is on sale for $129.99. This is 25% off the regular price. what is the regular

  82. Marketing

    Which of the following statements describes how price relates to profit? A. The lower the price is set, the lower the profit will be. B. The prices a business sets for products and services help in determining the profit of the business. C. A good or

  83. economics

    In your (imaginary) neighbourhood, the general consensus seems to be that 4 out of 5 cars are in good working order. The price for a good second-hand car is 2000$, while malfunctioning ones typically fetch 600$. (a) What is the expected value of a used car

  84. economic

    If the Government fixes the price of this product at $2 explain what would happen in the market. Draw a supply and demand curve for "this" product. Is the fixed price above or below the market equilibrium? Depending on how you answer, there should be a

  85. Economics

    Assume that there is a perfect competition market for a good X. If one supplier all of a sudden wins the lottery and buys all the other firms that make good X and turns this market into a monopoly. Describe to me the difference in price and total output

  86. Economics

    At the present price of $20 per unit, the firm is selling 2000 units of a good. It believes that the price elasticity of demand for the good is - 1.0. If the price is lowered to $18, then the buyers would be expected to buy a) 1800 units b) 2000units c)

  87. Economics

    which of the following factors will not lead to a decrease in demand for a good? A) an increase in the price B) a decrease in the price of substitute products C) An unsuccessful advertising campaign for the good C) a decrease in the consumer incomes I

  88. College economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good? (b) A $1 excise tax is imposed on the good. What will be the long-run

  89. Economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good? (b) A $1 excise tax is imposed on the good. What will be the long-run

  90. writing

    are ther ever situations in which it is not good to be softhearted?why explain. softhearted; generous, kind ,good heart,

  91. economics

    If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax. For example, if the price of a chocolate bar is $5 and the government imposes a tax of 20 cents

  92. Economcis

    Is GDP calculated by the price of the good with the indirect tax or the price of the good before the indirect tax? For example, if an economy only produces a single $10 good and it is taxed 10%, is GDP $10 or 11$? Thanks!!!

  93. microeconomics

    If the technology for producign a good improves and at the same time,the price of a substitute good falls, then the quantity bought and sold of the first good will increase. True, False, or Uncertain. Explain.

  94. statistics

    The average price of a gallon of unleaded regular gasoline was reported to be $2.34 in Northern Kentucky use this price as a population mean population standard deviation is $.20. question. what is the probability that the mean price for a sample of 30

  95. microeconomics

    7. For each of the following situations, decide whether the bundle Lakshani is thinking about consuming is optimal or not. If it is not optimal, how could Lakshani improve her overall level of utility? That is, determine which good she should spend more on

  96. economics

    When the price of X is $1 and the price of Y is $1 and income is I, Joe Panther spends $100 on good X. One day Joe is walking down Downer street and is dismayed to discover that the price of good X has increased to $2. However, moments later Joe is

  97. business and tech

    lets say that price gauging didn't happen,and the merchants sell the goods at the market price but with laws of supply and demand how would that be a good thing, When disasters hit an area, the cost of everything seems to go up immediately?

  98. manegerial econimics

    1 JQ sells ties and currently has sales of 1,200 units a month, producing a revenue of £36,000. It competes with KR, who is now considering a price cut of 25%. The PED for JQ is –1.5 and the CED between the two products is 0.8. a) Calculate the effect

  99. physics

    You can apply enough force to the head of a pushpin to push it into a plaster wall with your thumb. However, it is not a good idea to try to do this with a needle. Use the concept of pressure to explain the differnce betweeen these two situations. Thank

  100. Algebra

    Prada Sport 02LS Gloss Black 02LS 1AB1A1 £132.30 My equation is as follow: S=C(1+r/100)^5. This is to determine the inflated cost S, in five years, of an item, good and service, where C is the current price of that item in that country currency and where

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