A firm's supply curve is upsloping because:         the expansion of production necessitates the use of qualitatively inferior inputs.        mass production economies are associated with larger levels of output.        consumers envision a positive relationship between price and quality.        beyond some point the production costs of additional units of output will rise.

Q: The supply function for a product is Qs=2P - 14. while the demand function for the same product is…

A: ANSWER MARKETING EQUILIRIUM IS THE ACTUAL PRICE IN WHICH WORLD IS BALANCING ACT BETWEEN  SUPPLY AND…

Q: If the price of a good is initially below the equilibrium level         excess demand exists.…

A: Equilibrium price: At this supply of goods matches the demand.

Q: For the pizza seller whose marginal, average variable, and average total cost curves are shown in…

A: 1.) When the price is $1.50 per slice, the profit-maximizing level of output is 450 slices per…

Q: A car rental agency lowers their rates by 10 percent. If the agency wants to recoup the income lost…

A: If the demand for cars is elastic then, the percentage change in quantity demanded is more than the…

Q: MacGuffins have a demand function of QD = 70 – P and a supply function of QS = 2P + 10. Determine…

A: Equilibrium point is where quantity demanded is equal to quantity supplied. Since QD = QS…

Q: Is the following statement true or false? An increase in both demand and supply of a product will…

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

Q: A supply curve which is partaken to the horizontal axis suggests that

A: The markets are the place where the buyers, or the consumers interact, and meet with the sellers.…

Q: Assume quantities need not be integers. Supply in a competitive market is P(Qs)= 4/10×Q + 90. If the…

A: A supply function shows a  positive relationship between quantity supplied and price.

Q: A rightward shift of the demand curve in a market with an upward-sloping supply curve will lead to…

A: The equilibrium occurs where the demand and supply are equal. The price prevailing at equilibrium…

Q: Assuming that Pepsi-Cola and Coca-Cola are substitutes, a rise in the price of Pepsi-Cola, other…

A: Substitutes are those goods that are consumed in place of each other as each of them provides almost…

Q: The estimated supply function for avocados is Q = 6 + p/3 - 3f, where f is the price of fertilizer.…

A: Given: Q=6+p/3-3f Where, f=price of fertilizer Note: Due to multiple questions being posted, the…

Q: For each of the following changes, determine whether there will be a change in quantity supplied or…

A: When there is a change in price of the good, then it brings movement along the demand or supply…

Q: For each of the following changes, determine whether there will be a change in quantity supplied or…

A: Quantity supplied changes only if the good's own price changes. Supply changes only if non-price…

Q: Estimated Supply Function: Q = 100 + 20p – 28pf                         If we hold pf at $0.50 per…

A:

Q: A supply curve for tomato production is given by Q = 35P - 5. Something causes the supply curve to…

A: Supply curve shows how much quantity is supplied by firms at a given price level.

Q: A firm supply curve is upsloping because:         the expansion of production necessitates the use…

A: A firm enters the market and supplies specific products or services to make a profit from selling…

Q: If a new technology doubles the production of workers as well as the level of production output,…

A: The cost of production implies the expenses incurred by a firm or producer when manufacturing goods…

Q: Land-use zoning that limits the amount of land for apartments generates a relatively (flat/steep)…

A: Demand is the desire backed by a willingness to pay and the ability to pay by an individual. The…

Q: A) supply is inelastic and demand is elastic. B) supply is elastic and demand is elastic. C) supply…

A: Question 7 The answer is - D) Cannot arise on a market with perfect competition

Q: The market supply curve is a vertical summation of individual supply curves.

A: The market supply curve is a macro economic concept which justifies individual producers on the…

Q: The demand equation for a product is p= a– bq and the cost function is C(9) = kq² – rq where p is…

A: At equilibrium Marginal revenue is equal to marginal cost. Firstly we calculate  marginal revenue…

Q: Which of the following would reduce the supply of microcomputers?     a technological improvement…

A: Supply is an upward sloping curve, showing how much quantity is supplied at different prices.

Q: The demand for a product is more inelastic: the lower the average income of consumers. the poorer…

A: The problem is related to understanding the factors that influence the elasticity of demand for a…

Q: A supply curve slopes upward because    Question 4 options:   a)  as more is produced total cost…

A: The supply curve is a graphic representation of the relationship between product price and quantity…

Q: Which of the following is not a supply shifter for physician services? (a) Increase in nurse salary…

A: The supply of physician services can be influenced by various factors that can shift the supply…

Q: In the short-run if there is a surplus in the market for a product, the rationing function of price…

A: The demand curve is the downward-sloping curve. The supply curve is the upward-sloping curve. The…

Q: Suppose there is a decrease in supply and an associated decrease in the quantity demanded. Which of…

A: Supply refers to the quantity of goods or service that a seller is willing and able to sell at a…

Q: Your firm has previously modeled revenue for your local production line. Given that total revenue…

A: Total revenue is the product of price and quantity. The total revenue is maximized where the…

Q: Demand ISelect ] more inelastic the longer the time frame. more elastic Demand is ISelect] the more…

A: Answer: (1). Demand is more elastic the longer the time frame. Explanation: If due to a small change…

Q: None

A: A) Change in consumer preferences: This would typically affect demand rather than supply. If…

Q: A taxi company finds success in its city of operation. Due to this success, a new company comes into…

A: In economics, studying a market scenario is considered as a significant learning as it helps to…

Q: Which of the following statements are true? (i) When demand is price elastic, total revenue moves in…

A: (i) When demand is price elastic, total revenue moves in the opposite direction of the price change.…

Q: A perfectly competitive firm has cost function: AVC = 2Q + 4 (P: $, Q: kg). When the market price is…

A: The cost that remain constant or doesn't change with time is known as FC(fixed cost).The cost that…

Q: If product X is an input in the production of product Y. In turn product Y is a complement to…

A: Meaning of Substitutes Goods:The term substitutes goods refers to the situation under which there…

Q: uantity supplied. Slope upwards. Slope downwards.

A: The supply bend is a realistic portrayal of the connection between's the cost of a decent or…

Q: Given a demand curve of P = 165 - 6Qd and supply of P = 65 + 5Qs, find the equilibrium price (Pe),…

A: The demand curve shows an inverse relationship between price and quantity demanded, ceteris…

Q: QUESTION 1 Given a demand curve of P = 191 - 4Qd and supply of P = 61 + 1Qs, find the equilibrium…

A: The demand curve shows an inverse relationship between price and quantity demanded, ceteris…

Q: A decline in the price of factor A will: Select one; Increase the demand of for complimentary…

A: In economics, two items are deemed as substitutes if they can both meet the same need. Contrary to…

Q: Mary sells bottles of lemonade. The demand factor for her lemonade is given by D(q)=100-1.5q and…

A: Demand curve is the graphical representation of demand schedule.  Demand schedule is the tabular…