Suppose a lawn care company adopts a new scheduling software to replace its old system of filling out paper calendars. Which factor of supply does this scenario exemplify? A) Technology B) Price of input C) Number of sellers D) Expectation of the future In the following example name the factor that affects demand and describe its impact on your demand for a new cell phone: you hear a rumor that a new and improved model of the phone you want is coming out next year. A) Expectations, and your demand will decrease B) Income; your demand will decrease C) Price of related goods; your demand will decrease D) Number of buyers; your demand will decrease

MACROECONOMICS FOR TODAY
10th Edition
ISBN:9781337613057
Author:Tucker
Publisher:Tucker
Chapter3: Market Demand And Supply
Section: Chapter Questions
Problem 12SQ
icon
Related questions
Question

Gg.224.

 

Suppose a lawn care company adopts a new scheduling software to replace its old system of filling out paper calendars.
Which factor of supply does this scenario exemplify?
A) Technology
B) Price of input
C) Number of sellers
D) Expectation of the future
In the following example name the factor that affects demand and describe its impact on your demand for a new cell
phone: you hear a rumor that a new and improved model of the phone you want is coming out next year.
A) Expectations, and your demand will decrease
B) Income; your demand will decrease
C) Price of related goods; your demand will decrease
D) Number of buyers; your demand will decrease
Transcribed Image Text:Suppose a lawn care company adopts a new scheduling software to replace its old system of filling out paper calendars. Which factor of supply does this scenario exemplify? A) Technology B) Price of input C) Number of sellers D) Expectation of the future In the following example name the factor that affects demand and describe its impact on your demand for a new cell phone: you hear a rumor that a new and improved model of the phone you want is coming out next year. A) Expectations, and your demand will decrease B) Income; your demand will decrease C) Price of related goods; your demand will decrease D) Number of buyers; your demand will decrease
Expert Solution
steps

Step by step

Solved in 4 steps

Blurred answer
Knowledge Booster
Multiplicative Exponential demand Model
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
Economics
ISBN:
9781337613057
Author:
Tucker
Publisher:
CENGAGE L
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Economics For Today
Economics For Today
Economics
ISBN:
9781337613040
Author:
Tucker
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Exploring Economics
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc