Q10. A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer buys 100 units of the good at the price of? 20 per unit. At what price will the consumer huu 200

Q: coke and pepsi are substitute goods. if the price of coke skyrockets, then the demand for pepsi…

A: Two goods are said to be substitute goods when one good can be used in place of other. Price and…

Q: Suppose that many people like to wear CoC shorts with COC t-shirts as a matching set. Now, suppose…

A: As given that many people like to wear Coc shorts with Coc t-shirts as a matching set. So CoC Shorts…

Q: Law of demand pretty much means that if price is high then the demand is low, and if price is low…

A: Demand shows the amount of goods and services a consumer is willing and able to buy at different…

Q: In the market for air travel, which of the following variables would decrease demand,ceteris…

A: Options C and D are correct.

Q: If the cross-price elasticity between ketchup and hamburgers is –1.2, a 4% increase in the price of…

A: Note:- Since we can only answer one question at a time, we'll answer the first one. Please repost…

Q: Jeans and shitrs are complements. If the price of jeans goes up, ........... will fall. a) quantity…

A: Demand is the willingness  of consumers for consuming goods and services at given prices. Under…

Q: If milk is a normal good, then a decrease in consumers’ income will definitely cause  A a decrease…

A: A normal good is the one whose demand increases with the increase in income and demand falls with…

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: True/False DEMAND FOR ONE GOOD ALWAYS RISES WITH THE INCREASE IN INCOME.

A: Demand and income has a relationship and this relationship depends upon which type of good we are…

Q: When the price of a hoola hoop is $10, 200 units are sold on the market.  When the price of a hoola…

A: Given: P1 = $10 Q1= 200 units P2= $8 Q2 = 120 units

Q: Which of the following factors will NOT cause a shift in the demand for a good? a. None of the…

A: The demand for a good refers to when the person has an adequate amount of resources and the…

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

A:

Q: Demand is characterized by P(@d) = 100 – (3/10)*Qd. If market price increases from $50 to $57, what…

A: Demand equation: - demand equation is the mathematical equation that shows the relationship between…

Q: 1. Consider oil which has a PED of -0.4. What does this number mean? A. Oil demand is elastic B. Oil…

A: price elasticity of demand states that change in demand due to change in price we can choose the…

Q: If steak is a normal good, when incomes rise, the equilibrium price will _____, and the equilibrium…

A: A normal good is that good whose demand increases when there is increase in the income of the…

Q: If advances in PC production technology increased the supply of PCs sharply. The demand for PCs will…

A: Here, it is given that there is a technology advancement in PC’s production; therefore, as a result,…

Q: Q.1: Factors that determine changes in demand.

A: Although the economics builds a relationship between a product's pricing and how much buyers are…

Q: Which of the following will not cause a change in the demand for coffee.  A. a decrease in the…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: People come to expect that the price of a gallon of gasoline will rise next week. As a result,A)…

A: One of the factors that affect the behavior of a producer and consumer is future expectations.…

Q: the measure of the percent change in the quantity of a good demanded divided by the percent change…

A: Price has an inverse relationship with quantity demanded

Q: A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer buys 100…

A: Price elasticity of demand for a good is the measure of responsiveness of demand due to the change…

Q: A Dell computer is a substitute for an HP® computer. Whathappens to the demand for HP computers and…

A: Meaning of Substitutes Goods: The term substitutes goods refer to the situation under which there…

Q: Which of the following would not cause a decrease in the demand for bananas?  a. Reports surface…

A: The increase in the price of a commodity will decrease the demand of that commodity and vice versa.

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: Which of the following will not cause a shift in the demand curve for a good? a) income b) taste…

A: When there is a change in price of good, it causes movement along the demand curve or supply curve.…

Q: 20% and the quantity of demand decreases by 30%, the demand for the goods is inelastic

A: Elasticity of demand depicts how much consumer responds with the change in the price level.

Q: When the price of oil declines significantly, the price of gasoline also declines. The latter occurs…

A:

Q: A 20 percent fall in price leads to 80 percent rise in the demand for a good. A consumer buys 100…

A: To answer this question, you first need to calculate price elasticity of demand

Q: calculate the cross price elastocoty of demand, if there is 5% change in the demand of a good when…

A: Cross price elasticity of demand = %change in quantity demand of a good / % change in the price of…

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: Which of the following increases the demand for a good or service? A) a rise in the price of a…

A: Increase in demand refers the situation when more quantity of a commodity is purchased at the same…

Q: Answer True/False 1.A change in the price of a good will cause a shift in its demand curve. 2.An…

A: A change in the price of a good will cause a shift in its demand curve. False A shift of demand…

Q: When the price of chicken unexpectedly rises, many consumers choose to purchase corned beef…

A: Substitute goods are those goods whose elasticity is positive. It is the product which is used as…

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: True/False The demand of normal good rise with the fall in income

A: # For a normal good demand and income will move in the same direction, this means that the good will…

Q: 15. Which of the following is likely to shift the demand for watches to the right? * a. An increase…

A: Answer for Q#15 Consumer income, price of related commodities, consumer tastes and preferences,…

Q: oes decreases from $60 t

A: Price elasticity of demand is a measure of degree of responsiveness of the demand for a good to…

Q: Pepsi and burger are complements because they are often enjoyed together. When the price of pepsi…

A: Complements goods are those goods which are used together. Like pen and ink, in the Complements…

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: The price of 1 kg apples, which was $5 last month, is $6 today. True of False: The demand curve for…

A: The demand for a quantity depends upon the quantity's price and also on other factors such as the…

Q: Tablets and laptops are substitutes. Due to manufacturer related issues, there is a deep shortage of…

A: According to question laptop and tablets are substitutes, a substitute is such kind of goods for…

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: The price of cakes falls from $4 to $3 and the quantity purchased increases 80%, then demand for…

A: P0 = 4 P1 = 3 % change in Quantity = 80% % Change in Price =  28.5%

Q: An increase in the price of coffee, holding other things constant, will increase the demand for…

A: In marketplace, economics provide generalized relationship between two or more economic variables,…