When prices rise, why are suppliers/firms willing to increase output? When prices rise, why are suppliers/firms able to increase output?

Q: Why do we use straight lines on demand and supply?

A: A demand schedule is a table that displays the quantity of goods requested in the market at various…

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: In the following situations graphically illustrate what happens to the market for blankets in St.…

A: 1. Due to the damage of cotton crops in a flood, the cost of cotton increases.Since cotton is an…

Q: Name the three cases when both the demand and supply increases at a certain period of time?

A: Generally in the given question The word supply means the ability of the consumers or the producer…

Q: How does the interaction of demand and supply keep a market in balance, at least approximately and…

A: Demand for a commodity is the desire backed by ability and willingness to pay the given price during…

Q: If there is a decrease in demand for a good, what will most likely happen to the price and quantity…

A: A decrease in demand can be because of various reasons like Increase in price, A decrease in the…

Q: Is it true that all buyers and sellers are content with the market price if a market is in…

A: If demand and supply are equal, the market is in equilibrium. The price mechanism, whereby buyers…

Q: TRUE OR FALSE? The scarcity of raw materials will result in the shift of the supply curve upward to…

A: The amount of the product that producers deliver to the market at varied prices throughout a…

Q: The introduction of new technology can affect the amount of supply a business will produce. Will it…

A: The supply schedule illustrates what the firms can produce at every price point and how much they…

Q: Explain why price moves towards equilibrium in a free market and why the equilibrium price may…

A: The free economy is the economy where no restrictions are imposed on the production activities and…

Q: In the market for computers, the number of computer producers increases. At the same time, people’s…

A: There is a simultaneous increase in both demand and supply.  Increase in number of producers…

Q: how the equilibrium price and quantity change when a change in demand occurs and the supply stay…

A: A demand curve shows the relationship between the price and quantity demanded. A supply curve shows…

Q: Suppose oil prices rise for sharply for years as a result of a war in the Persian gulf region, What…

A: The concept of complementary goods and substitute goods is important part of demand analysis in…

Q: Explain what Uber and Careem would like to happen to oil prices in the future and why.

A: This is a significant movement for Uber as we keep on extending the strength of our foundation all…

Q: What will happens to equilibrium price P" and equilibrium quantity Q* if a) The price of cocoa falls…

A: When cost of production falls, supply curve shifts rightwards. When cost of production rises, supply…

Q: If your price is greater than MC (P>MC) will you continue increasing your production? Explain

A: A perfectly competitive market is that market structure in which there are many buyers and sellers…

Q: Explain the effects of the following statements to the equilibrium of supply and demand. Use…

A: The supply and demand factors in the market determine the market's equilibrium. The demand curve is…

Q: In a market economy, supply determines demand and demand, in turn, determines prices. demand…

A: The price of a product is set by the law of supply and demand. Consumers have a desire to amass a…

Q: What will happen to the market for gasoline, if both the price of air travel increases and the wages…

A: Demand for a commodity would change with a change in the price of related commodities. A change in…

Q: When both the demand for and supply of bottld water increase but demand increases by more than…

A: The equilibrium is set up where the demand and supply forces are equal. The Changes in the demand…

Q: How do you show a decrease in demand graphically? What happens to equilibrium price and quantity?

A: Demand= It means the desire of a consumer for purchasing a good or service along with the…

Q: Researchers find that drinking beer has positive health effects. What impact will this have on the…

A: Producer surplus is defined as the difference between the amount the producer is willing to supply…

Q: each case. If consumer income decreases and "road crew" wages fall, quantity will rise and prices…

A: a. Uncertain. In this case, the demand will fall due to decrease in consumer income. When crew wage…

Q: True or False (Why): If the price charged is less than the equilibrium price, a shortage will occur.…

A: We are authorized to answer one question at a time, since you have not mentioned which question you…

Q: Do you agreee that when the price of petrol rises, the demand for cars decreases.

A: The buyers are the entities, who interact with the sellers in the market and trade with them. The…

Q: Graph the following a. Flood destroys the rice crops. Demand remains constant. Show effects on…

A: a.  Rice grows well when submerged in water, but if flood levels are high enough to submerge the…

Q: What would cause a change in demand, and a change in supply?

A: Change in demand is caused by the demand factors other than price. Therefore the following factors…

Q: Is introducing a minimum price a better way of reducing consumption than trying to change peoples’…

A: Minimum price is the lowest legal price set by the government of the country to increase the market…

Q: Distinguish the laws of demand and supply. How are the laws of demand and supply illustrated…

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

Q: In a competitive market, how will the actions of any single buyer or seller impact the market price?

A: In a competitive market, the actions of any single buyer or seller will not impact the market price.

Q: The federal government “supports” the price of wheat by paying farmers not to plant wheat on some of…

A: Please find the answer below.   EQUILIBRIUM PRICE: An equilibrium price, also known as a…

Q: where do prices come from? By prices, I am implying prices that result in a sale

A: Price is determined by the intersection of the demand and supply of a product.

Q: If incomes increase and the number of producers of batteries decreases, how will the equilibrium…

A: Please find the answer below.   EQUILIBRIUM PRICE: An equilibrium price, also known as a…

Q: What happens to the supply and price when demand goes up ?

A: Demand is defined as an economic term that refers to a customer's ability to purchase goods and…

Q: Suppose that the price of cricket match tickets at Mirpur stadium is determined by market forces.…

A: The demand and the supply intersection would result in the determination of the equilibrium price…

Q: everyone thinks that the price of gas will go up next week, what is likely to happen to the demand…

A: If everyone thinks that the price of gas will go up next week then they will increase the demand for…

Q: How would supply and demand effect the oil production is saudi arabia?

A: The market forces of demand and supply are considered to be the major determinants of price and…

Q: How will each of the following changes in demand and/or supply affect equilibrium price and…

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

Q: Why would firms raise the price if there is a market shortage, and why would some consumers pay that…

A: MARKET SHORTAGE: It can be defined as the situation when the demand in the market is greater than…

Q: If less rainfall limited the supply of indian onion production, how will it change the equilibrium…

A: Hefty unseasonal precipitation has secured most recent onion produce wet fields all through onion…

Q: Which of the following demonstrates the law of demand?     a. When car production technology…

A: The law of demand is the relation between two variables - the price(P) and the quantity…