What is the market price (market value) of the product?

Q: Is sugar and tea Substitute goods?

A: In a market, two goods, which are related to each other, can be complements or substitutes of each…

Q: What is the objective of the price change?

A: Price change shows that how during a trading period, there is a difference in price of the same…

Q: Sami bought an apartment for $185,000. The price of this apartment increased by 8% the first year,…

A: Profit is the difference between total revenue and total cost. Total revenue is the revenue that is…

Q: What will be the income when quantity is 104 and the price is 33

A: Initially in the given question, Quantity is = 104 Value of price = 33 Income = ?

Q: whats the differences between basic, producers’ and purchasers’ prices?

A: Basic price :- This is the amount producer receive from the sale of product, which includes…

Q: A loss of purchasing power due to a price increase and a decrease in the amount of one good…

A: Due to price increase, if the purchasing power of a consumer decreases, it is the income effect.

Q: How to calculate change in quantity

A: Change in quantity means change in a specific quantity of commodity that consumers are willing and…

Q: definition of products, goods and services

A: TO understand the definition of these terms, we need to understand that goods and products are used…

Q: Who benefit if the price is lower than the market price

A: The equilibrium is a state in which economic forces like supply and demand are balanced and the…

Q: Explain how economic forces such as employment, income, prices, interest rates, and consumer…

A: Demand for a commodity id desire backed by ability to buy and willingness to pay by an individual,…

Q: What is Supplies?

A: Supplier: A provider is an element that provisions products and enterprises to another association.…

Q: What is the relationship between TR, Price and quantity sold?

A: Total Revenue: Total revenue is the amount determined by multiplying the price of the commodity with…

Q: Draw a supply and demand curve for your favorite product. You get a massive raise at work, what…

A: Demand curve is a curve showing the quantity demanded by the consumer willing to buy at…

Q: What is produce.?

A: Let's think about the first issue: which goods should be produced, and in what quantities? Producing…

Q: what is the main problem in demand and supply

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: What is Supply

A: Supply: - in economics, the supply is the amount of a good or service available for sale in the…

Q: What happens in the graph when the price of bottled water rises?

A: The demand curve does not shift when there is a change in quantity demanded because of the change in…

Q: What determines the market area of a shopping centre?

A: A market area is a surface over which a demand or supply presented at a particular area is…

Q: What are good market?

A: Goods market: Goods market is a marketplace where producers and consumers interact with each other…

Q: What is a perfect market

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Serious natural disasters like hurricanes and tornadoes cause widespread and extensive damage to…

A: When natural disasters like hurricanes and tornadoes cause widespread and extensive damage to…

Q: The price of a DVD rental is 1.50 dollar and the price of a downloaded movie is $1. If the price of…

A: Initial DVD rental price = $1.50 Final DVD rental price = $2 Price of download movie = $1

Q: Explain the key ingredient :   The demander should have the purchasing power to buy that good or…

A: Purchasing Power:- The worth of a money is determined by how many commodities one unit of such…

Q: What refers to the amount of the satisfaction derived from the consumption of the commodity Help•••

A: It is the UTILITY which refers to the amount of the satisfaction derived from the consumption of the…

Q: People buy more of Pepsi when the price of Coke rises. These goods are

A: 1. Substitute goods - These are the goods which can substitute each other i.e. we can use one good…

Q: Explain the law of increasing opportunity cost in this graph

A: The opportunity cost is the value of the next best alternative that is foregone while making the…

Q: What are goods and services

A: Economic decisions are those decisions in which people will choose what to do with limited…

Q: What is supplied

A: Demand is the quantity of an item or service that consumers buy at various prices during a specific…

Q: difference between goods and services?

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

Q: How does the price of corn affect the supply of wheat?

A: Substitute goods are those goods which can be consumed by the consumer for same purpose. Wheat and…

Q: What happens if the market is not in equilibrium?

A: A market is the collection of buyers and sellers in which they exchange goods and services in terms…

Q: What are the nature of product sold in perfect market ?

A: A market is a place or a platform where the buyers and sellers meet and interact with each other in…

Q: What did the government encourage people to to increase the food supply and reduce the demand for…

A: To reduce the demand for commercially grown food,government initiated plant victory gardens to…

Q: How does the market structure affect the price of a good or service?

A: A market is a gathering of buyers and sellers to reach an agreement on the price and quantity of…

Q: What Is a Market?

A: In economics, the word market refers to a single commodity market or a collection of commodities.…

Q: The effect of the changes in income and prices?

A:

Q: d) There is an increase in income e) taste increase for the good

A: Answer to the question is as follows :

Q: Households sell their in the market. They then use their income to buy in the market. O A. factors…

A: household is seller of factor services in market like labor , land etc so here we can choose the…

Q: What is the likely demand for the product?

A: Meaning of Microeconomics: The term microeconomics refers to that situation under which the…

Q: What is the market price?

A:

Q: A graphical illustration of the law of demand and supply, indicating the different parts of a graph.

A: Demand and supply are two very important concepts in economics used to determine the equilibrium…

Q: a. an increase in the price of the good.

A: The supply curve shows the movement that occurred due to the increase in price. More quantity will…

Q: Is bread and butter Substitute goods?

A: First let's understand what are substitute goods. The goods which can be replaced with each other to…

Q: What is the difference between a "need" and a "value?"

A: There are many differences in need and value