Question

If the price of cholocate​ increases, then there will be

If the price of cholocate​ increases, then there will be

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

the decrease in quantity demanded

or

increase in the quantity supplied

or

the decrease in the demand for complement goods

or

increase in the demand for substitute goods

--------

Increase in the price decreases quantity demanded or vice versa when other things are constant as per demand law.

Supply law says that the increase in price increases quantity demanded and vice verse while other things are constant.

The price of a good and the demand for other good has a positive relationship if the good is a substitute and a negative relationship if the good is a complement.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Is the law of demand violated when price increases and total revenue increases also?
Is the law of demand violated when price increases and total revenue increases also?
If demand increases and supply increases: equilibrium price will increase and equilibrium quantity will decrease. equilibrium...
If demand increases and supply increases: equilibrium price will increase and equilibrium quantity will decrease. equilibrium price will be uncertain and equilibrium quantity will decrease. equilibrium price will be uncertain and equilibrium quantity will increase.
Which of the following statements is true? If the strike price increases, the value of the...
Which of the following statements is true? If the strike price increases, the value of the put option decreases. If a stock price increases, the value of the call option on the stock increases. If a stock pays dividends, the value of the call option on the stock increases. If a stock price increases, the value of the put option on the stock increases.
Suppose the quantity of supply always increases by 100 units if price increases $5. What is...
Suppose the quantity of supply always increases by 100 units if price increases $5. What is the price elasticity of supply when price and quantity of supply are $1 and 10 units, respectively?        a.    -2 b.     1 c.     2 d.     0.5 e.     Not enough information
Explain the law of demand, and why as price increases quantity demanded decreases; and, as price...
Explain the law of demand, and why as price increases quantity demanded decreases; and, as price decreases, quantity demanded increases? If taxes were more progressive, would total output be affected?
The supply curve is upward sloping because: as the price increases, the quantity supplied will fall....
The supply curve is upward sloping because: as the price increases, the quantity supplied will fall. as the price increases, the suppliers can earn higher levels of profit and hence increases the quantity supplied. as the price increases, consumers demand less. as the price increases, so do costs
If the market price of a bond​ increases, then the​ bond's ____________ will decrease.
If the market price of a bond​ increases, then the​ bond's ____________ will decrease.
Nominal GDP increases from $5 trillion to $5.5 trillion while the price level increases by 10%....
Nominal GDP increases from $5 trillion to $5.5 trillion while the price level increases by 10%. Has real income increased? Nominal GDP increases from $6 trillion to $6.8 trillion while real GDP increases from $6 trillion to $6.2 trillion. What happened to the price level? Nominal GDP increases from $7 trillion to $8 trillion while real GDP increases from $7 trillion to $7.5 trillion. By what percent did real income change?
Assume that when the government increases the sales tax on a good the price of the...
Assume that when the government increases the sales tax on a good the price of the good increases. If the government wanted to increase revenues by increasing the sales tax, would the government increase the sales tax on a good which is price elastic or which is price inelastic? Please explain.
) Assume that when the government increases the sales tax on a good the price of...
) Assume that when the government increases the sales tax on a good the price of the good increases. If the government wanted to increase revenues by increasing the sales tax, would the government increase the sales tax on a good which is price elastic or which is price inelastic? Please explain.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT