Explain how prices behaves under different markets.

Q: supermarket chains market can be given as an example of what kind of markets, and why?

A: Supermarket chains are chains of similar kinds of products sellers like D-mart, I-mart ,Best price ,…

Q: Millions of cattle have been killed due to a disease in U.S. Explain what will happen to demand…

A: The demand for a good is the quantity that consumer desires to buy and willing to pay for that good.…

Q: You are informed that the market price of coffee has gone up and that more coffee is being bought.…

A: Demand is the quantity of a good or service that people purchase at different prices during a given…

Q: Equilibrium price ?

A: Given  P =-3Qd + 150P= 6Qs + 60

Q: Enumerate some comparisons and contrasts of the concept of demand and concept of supply.

A: Demand is the customer's desire for a specific product at a given price, which he or she is willing…

Q: Studying the determination of prices in individual markets is primarily a concern of_____________.…

A: Study of economics can be divided into two branches, microeconomics and macroeconomics.

Q: Show the impact of colder than average spring weather in the Northwest United States on the markets…

A: A market is a place where the buyers and the sellers interact with each other and the exchange of…

Q: Explain the Market Equilibrium.

A: Market equilibrium: The market equilibrium is a market situation where the demand for goods or…

Q: Name and describe the four types of markets and the challenges they pose with respect to setting…

A: Meaning of Market: The term market refers to the situation under which the producers or the…

Q: Explain the law of supply. Why does the supply curve slope upward? How is the market supply curve…

A: Supply is the volume of products that sellers are willing to sell in the market, at a given price.

Q: What best explains a shift in market supply curve to the right?

A: To find : Shift in market supply to right.

Q: How does a change in production technology impact supply, demand and equilibrium price?

A: Change in Technology helps improving the volume of production thus resulting in decreased cost of…

Q: A shortage exists in a market when:

A: Shortage: It means the situation when demand is more than the supply of goods and services in the…

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: How Demand and Supply Establish Prices?

A: Supply and demand is an economic model for determining the price of goods and services. Demand for a…

Q: DRAW THE SUPPLY CURVE. NOW SHOW WHAT HAPPENS WHEN THE PRODUCT PRICE IS RAISED-

A: Price and quantity supplied has a direct relationship.

Q: Describe supply and explain how it can change.

A: In economics, the equilibrium is attained in the market with the help of the demand and supply…

Q: “There is constantly a shift in supply and demand curves and markets are never at equilibrium. As a…

A: Equilibrium is the state of balanced supply and demand in the market.

Q: If suppliers of tea cut supply in markets, what can we expect to happen to the market for coffee?

A: If tea supply decrease then it will leads to increase in its price and decrease in its quantity in…

Q: List the five things that are held constant along a market supply curve and identify the change in…

A: The supply curve depicts the relationship between the price and quantity of goods supplied at a…

Q: What is the role of price in market economies

A: When deciding an effective distribution of resources in a market economy, the price of goods plays a…

Q: Why/When Producers/sellers are bound to follow law of supply?

A: Supply- It is an amount of a good or service that is available for use.

Q: The point at which the supply curve and the demand curve intersect is the market price, or the…

A: Demand and supply are the driving force of the economy. For maximizing consumer and producer…

Q: Describe the role of prices in the market economy?

A: Market economy: the production of goods and services is directed by the laws of supply and demand in…

Q: dentify and explain the functions of price in the market system

A: In the Market, The price is set by the market force i.e demand and supply. Price plays a very…

Q: In the market for some good, demand decreases and supply decreases. What prediction would you make…

A: Demand decreases and supply decreases.  Their effect on market depends upon the magnitude of change.…

Q: A locus of points that shows the inverse relation between price and quantity all other things…

A: A consumer's desire to buy products and services, as well as their willingness to pay a price for…

Q: Explain why the price in competitive markets settles down at the equilibrium intersection of supply…

A: In an economy, there is a difference in the pricing policy of competitive market and non-competitive…

Q: Supply in economics

A: Demand and supply are frequently, if not always, linked in economics and finance. The law of supply…

Q: Supply Curve and give interpretations.

A: Supply and Supply Function : By supply it is meant that the amount of a commodity offered for sale…

Q: *Analyze the dynamics of supply and demand to anticipate market equilibrium.

A: Economics refer to the study of allocation of scarce resources, in the most optimal way when the…

Q: How is the price of gasoline determined in a competitive market? What predictions can you make about…

A: A competitive market is a market where a large number of buyers and sellers. In this market firms…

Q: Who determines the price in perfect markets?

A: In a perfect competition, there are large number of buyers and sellers who does not control the…

Q: Please explain what happens in a market when the price of the product decreases relative to its…

A: In a market, an equilibrium level can be expressed on a graph as it is the intersection point of…