Explain all the reasons why a decrease in the price of a product would lead to an increase in purchases of the product. ​​

Q: Explain, with the aid of a graph, the effect of an increase in the income on the equilibrium price…

A: Income elasticity of demand is used by economists to determine whether a product is a necessity or a…

Q: Is the change in revenue related to an increase in units sold, an increase in prices, or…

A: Revenue is the value of sold products. It is derived as price per unit multiplied by the quantity…

Q: Make up an example of a monthly supply demand schedule or pizza, and graph this demand curve

A: Demand refers the total amount of goods and services that are willing to buy at the particular price…

Q: Identify two causes, apart from an increase in income, of an increase in demand for a product.

A: Demand for a product implies the desire of people to have a good supported by the willingness and…

Q: The figure above shows the demand for fruit snacks. Which movement reflects how consumers would…

A: Demand curve depicts the relationship between price and quantity demanded.

Q: What are the results of “changes in price”? How does this differ from “changes in demand”?

A: The willingness of a consumer to purchase goods and services at a certain price is known as demand.

Q: What can we expect to occur to hot dog buns if the price of hot dogs were to decrease?

A: Law of demand - If other things remains constant, decrease in price of a good will increase the…

Q: Consider a company that decreases the price of their product by 50% and finds that quantity demanded…

A: Elasticity of demand measures how much the quantity demanded responds to the changes in the price of…

Q: A demand schedule A) shows how the demand changes when the supply changes. is a list of the…

A: When a good is manufactured, cost  takes place for producing that good and process of business…

Q: What happens to the price and quantity of bagged salad when the price of salad dressing decreases?…

A: Complementary goods are the goods that adds value to one another and they cannot be used without one…

Q: If the price of a product decreases by 10 percent and the quantity demanded increases by 5 percent…

A: Price Elasticity of Demand measures the percenatge change in quantity demanded due to percentage…

Q: Explain how consumer expectation is a determinant of demand.

A: Demand simply refers to a customer's desire to purchase goods and services without hesitation and…

Q: ASSUME THAT A DECREASE OF 10% AND THE PRICE OF CARS RESULT IN AN INCREASE OF 40% IN QUANTITY…

A:

Q: Quantity Quentity Price Prce Quantiy Quanity 1. Refer to the Figure 4-5. Which of the four graphs…

A: Demand graph is used to represent the demand of goods and services. It is very easy to understand…

Q: Are coffee and tea Substitute goods or compliment goods? Why?

A: # Goods which can be used on place of each other are said to be as substitute goods and the goods…

Q: Which of the following is a determinant of demand? A) the price of a substitute goods B) the price…

A: In a market, there are various determinants of demand that have the ability to influence the…

Q: True/False With a fall in the income demand for the normal goods will rise

A: According to the given questions the normal goods are those goods the demand of which considerably…

Q: Explain how the equilibrium, or market, the price of a product is examined.

A: Equilibrium is known as the state of balance, the state of rest from where there is no tendency to…

Q: a. What is the difference between a "change in demand" and a "change in quantity demanded?" Graph…

A: The law of demand refers to the inverse relationship between price and quantity demanded (other…

Q: Kamika lives in Chicago but goes to school in Tucson, Arizona. For the last 2 years, she has made…

A: The economics as a study is based upon the idea that the societies, and the economies tend to have a…

Q: For each of the following changes, determine whether there will be a change in quantity demanded or…

A: There is a change in demand when the consumption of consumers change due to change in any factor…

Q: good Y is -4. Determine how much the consumption of this good will change if: a. The price of good X…

A: Price elasticity of demand is a measure of the change in the quantity purchased of a product in…

Q: Consider the market for mobile phones. If consumers' incomes are increasing, then the price of…

A: Answer: Correct answer: Increase Explanation: As the income of consumers increases then the demand…

Q: Elaborate all possible effects of change in income and price to the equilibrium of consumer.

A: The equilibrium in the market is determined where demand is equal to supply. It means the quantity…

Q: Law of demand explains the negative relationship between price and quantity demanded. How will you…

A: The law of demand shows the negative relationship between price of the good and its quantity…

Q: As Sandi's income rises, her demand for popcorn rises. As Mark's income falls, his demand for…

A: In an economy there exist certain types of goods that individuals consume based on their income,…

Q: 38. Which of the following events will cause the demand curve for hamburgers to shift to the right?…

A: A shift in the demand curve of a commodity takes place because of factors, other than the price of…

Q: How has the supply and demand of a specific product affected your/your family’s purchasing…

A: The supply and demand for a specific good affect the consumer in several ways.  The interaction of…

Q: Relationship between changes in price and  corresponding changes in quantity that consumers will…

A: Change in price will leads to change in demand.

Q: If the price of tamarind falls, there will be: an increase in the quantity demanded of tamarind. a…

A: The equilibrium price is the only cost where the aims of consumers and the aims of producers…

Q: We know that a change in the price of a product causes a movement along the demand curve. Suppose…

A: According to the law of demand, there is n inverse relation between price and quantity demanded of a…

Q: 11. People view cell phone and its charger as complements to one another. If the price of cell phone…

A: 11. We have to found complementary goods.

Q: Suppose the producer expect the price of chicken to rise next month, the producer is likely to…

A: The notion of supply in economics is used to calculate the quantity of a good or service produced by…

Q: Explain all the reasons why decrease in the products price will lead to an increase in purchases

A: Demand: Demand is a desire for a commodity, the ability of the consumer to pay for it, and…

Q: If computers are like most goods and the price of computers chips rise, then holding all else…

A: Assuming: computers are like most (normal goods). Computer chips are used as input in the making of…

Q: What components will cause a Shift in the Demand curve?

A: A demand curve undergoes a shift due to following factors: a) Income of buyers: If the income of…

Q: kindly give the relevant term or concept A situation where the quantity supplied of a good is not…

A: "When quantity supplied of a good is less sensitive to a change in the price of the good this means…

Q: what are an appropriate measure of how sensitive the quantity demanded is to changes in price,…

A: The Elasticity of demand is the economic factor which measure the sensitivity of the change in…

Q: What relationship does a downward-sloping demand curve illustrate? the inverse relationship between…

A: The law of demand is an important concept in economics. It states how the price of a good and the…