Why would demand for steel may decline when demand for aluminum rises? What kind of relationship exists between the two?

Q: Consider supply in the long run. Assume that a specific tax is imposed on a good that was…

A: Introduction: When all inputs are variable, the long provide is the provision of commodities out…

Q: Demand for a commodity refers to

A: Consumers are the people who create demand for a good in an economy. Producers are the people who…

Q: How might companies such as Mars and Nestlé react to an increase in the price of sugar?

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Does a change in technology lead to a shift in the demand curve? Why, or why not? Your answer cannot…

A: Actually in the given question the change in technology or the technological progress always allows…

Q: In what direction does the supply curve shift when technology is improved? Draw this curve.

A: Technology is an important determinant of supply. When technology is discovered, it reduces many of…

Q: What are some products with inelastic prices that we haven't thought of? And why does that product…

A: The law of demand refers to the inverse or negative relationship between the quantity demanded of a…

Q: Explain the reasons behind the backwards sloping demand curve

A:

Q: Choose any business.  If you worked for that business, what major factors would stimulate the demand…

A: The major factors that would affect the demand or stimulate the demand are as follows: Price plays…

Q: Which of the following would cause the supply curve to shift to the right? An increase in the price…

A: The law of states that as the price of the product rises then quantity falls and as the price of a…

Q: What is the direction of a perfectly inelastic supply curve? vertical upward sloping to the right…

A: Inelastic goods are those goods which are often described as necessities. A shift in price will not…

Q: happen if a company produce supply more than customer demand

A: When a company produce supply more than the consumer demand, then it is a situation of excess…

Q: If wages increase from $10/hour to $12/hour, by how much would a firm need to decrease its markup,…

A: Mark-up is a term that is used for the scenario that to how much amount, the seller will add to the…

Q: What factors determine the elasticity of resource demand? What effect will each of the following…

A: Resource pricing determines the income of people. If there is no demand for the output (product),…

Q: WHAT COULD EXPLAIN THE SIMULTANEOUS INCREASES IN THE PRICES OF LITHIUM AND THE PRODUCTION OF…

A: An increase in the price and increase in production shows that the demand for the particular product…

Q: What are the theories of supply?

A: At a given market price, a specific quantity of products offers to sell by the firm is known as the…

Q: What effect will each of the following have on the supply of auto tires? An increase in the price of…

A:

Q: In the last decade, there has been a dramatic expansion of small retail convenience stores (such as…

A: The prices are higher in convenience stores as compared to the large supermarkets because…

Q: Explain why a supply curve slopes upward

A: supply is defined as the quantity of goods that the producers decide to sell in the market at any…

Q: Write the equation for the 45 degree line starting at zero. Is this line above or below the supply…

A: A line that shows fairness between the variable estimated on the upward pivot of a graph and the…

Q: For each stock in the stock market, the number of shares sold daily equals the number of shares…

A: At any given time of the stock trading session, both the prospective buyers and sellers will be…

Q: What effect will each of the following have on the supply of auto tires? A technological advance in…

A: The demand and supply of goods in the market are the best source of information about the…

Q: Define Supply?

A: Answer is given below

Q: What are the various factors which may influence the demand for intermediate goods like cables?…

A: Intermediate goods are those goods that are demanded not for their direct consumption, but it is…

Q: What if a t-shirt company ramped up production until there was a huge supply? What positive and…

A: A ramp up is a critical expansion in the degree of output of an organization's items or…

Q: Suppose the demand curve for desktop computers shifts leftward and at the same time supply curve…

A: Given that the demand curve for desktop computers shifts leftward and at the same time supply curve…

Q: (a) Due to the increase in the demand for video games, the equilibrium price of video games…

A: a. Price elasticity of supply refers to the responsiveness of the producer indicated by percentage…

Q: Define Shifts in supply. ?

A: Supply refers to the amount of the goods or services in the economy that are available for purchase…

Q: What effect will each of the following have on the supply of auto tires? The levying of a per-unit…

A: Supply: Supply shows the direct relationship between price and quantity supplied. When there is a…

Q: Which of the following is NOT held constant while moving along a supply curve?A) prices of resources…

A: Supply refers to the number of goods and services that the producers or the firms are willing to…

Q: If the price of rubber falls, how will that affect the demand for rubber tires?  a) demand will not…

A: Solution: If the price of rubber falls, how will that affect the demand for rubber tires?  a) demand…

Q: Write down the factors affecting supply. Which of the following factors will cause the following…

A: Disclaimer: Since you have posted a multipart question, I am providing you with the answer to the…

Q: Give 3 reasons why the demand for salt is inelastic?

A: For goods whose demand is inelastic this simply means that the consumer is least responsive towards…

Q: company intentionally limit supply when consumers want more of a product?

A: A company intentionally limit supply when consumers want more of a product in order to get higher…

Q: If there is a decrease in demand with no change in supply will that result in an immediate shortage…

A:

Q: if supply decreases by 30%, would the price increases by the same amount? if not, why

A: A decrease in supply will make the harmony price rise; the amount requested will decrease. To figure…

Q: What are some general factors that can impact the demand for a product and the supply of a product?…

A: Law of demand states that there exists negative relationship between price of a good and quantity…

Q: Which of the following will increase the supply of cellphones? (Check all that apply.) Multiple…

A: A change in the quantity supplied is different than a change in the supply.

Q: What will happen to the supply and demand curve, equilibrium price and quantity of boots if price of…

A: The cost of production factors, rather than market pricing, is used to calculate factor cost or…

Q: Which of the following would NOT cause an increase in demand for Canadian canola?

A: Canada is one of the important producer of canola.

Q: When asked for investment advise, humorist Will Rogers joked that people should "buy land. They…

A: A person pronounces that there is a shortage of land in the market. Since, the quantity demand for…

Q: Define Shifts in both demand and supply?

A: A shift during a demand or supply curve occurs when a good's quantity demanded or supplied changes…

Q: If there is an increase in supply with no change in demand will that result in an immediate shortage…

A: Market determines the price and quantity with the market forces behaviour . Demand and supply…

Q: Distinguish between a shift in and a movement along the supply curve.

A: A supply curve shows the relation between price charged and quantity supplied. When there is a shift…

Q: What are the effects on the equilibrium price and quantity of steel if the wages of steelworkers…

A: It is given that there is an increase in the wages of steelworkers and an increase in the price of…