State any two reasons for why a consumer buy more at a lower price

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: If the demand for airline traveling increases,

A: As the demand increases, the demand curve shifts towards right and with the decrease in demand the…

Q: how did we get price at $10?

A: As discussed earlier, the monopolist has complete and maximum market power. A Monopolist produces…

Q: what is a scenario in which the consumer faces a shortage of a good due to high demand. Explain how…

A: The objective of the question is to understand a scenario where a consumer faces a shortage of a…

Q: what is the cross-price elasticity of demand for substitute goods?

A: Cross price elasticity(XED) measures the effect of change in any good's prices on the demand for the…

Q: Find the level of income when the quantity is given as $418 and the price is given as $360

A: Basically in the given question Quantity is valued as = $418 Price = $360 We need to find the level…

Q: For an inferior good, the quantity demanded

A: Demand for inferior goods are depending upon consumer's income.

Q: Explain how a store can sell more elastic goods

A: Elastic demand is when the change in quantity demand will be greater than the change in price.

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: cross-price elasticities

A: Elaticity shows much demand of a good changes due to change in the price of a good.

Q: If iPad is considered a normal good, when income in Camarillo goes up, the effect on iPad in…

A: In a market, if a good is a normal good, it will have an inverse relationship with the price, and a…

Q: Cheese and buns are comements. What will happen if cheese becomes less expensive?

A: Definition of Complementary goods : These are jointly demanded goods.

Q: Which of the following would NOT change demand? *         a)information about the product's health…

A: Demand is the willingness of consumers for consuming goods and services at given prices. Under…

Q: what are Factors affecting the demand of gasoline

A: Demand for Gasoline Gasoline is a generally inelastic product, which means that price fluctuations…

Q: Explain how consumer expectation is a determinant of demand.

A: Demand simply refers to a customer's desire to purchase goods and services without hesitation and…

Q: Will the demand for pay TV shows increase in the future

A: The demand for pay TV shows will increase in the future because:

Q: How do you respond to the price elasticity

A: Economics is a subject that studies and plans the distribution of scarce resources among humans who…

Q: Draw a supply and demand curve for cheeseburgers. Cattle farmers created a supplement to give to…

A: The demand(dd) curve shows us the negative relation that exists between the price(P) of a product…

Q: why is it possible to have a 150% increase in price but not a 150% decrease in price?

A: Price alludes to how much money that an individual or substance need to pay in exchange for a…

Q: 026. As a result of increase in price by 20%, the 40%. Comment on PED.

A:

Q: What is consumerism?

A: For explaining consumerism ,we can define as : A consumer uses the goods and services produced in…

Q: Explain the term  Shift in consumer preferences

A: The shift in consumer preferences can be defined as a change in the preference for the goods…

Q: Explain all the reasons why a decrease in a product’s price would lead to an increase in purchases.

A: Demand for a commodity is based on the desire to have that commodity backed by the ability to pay…

Q: Draw a supply and demand graph for new cars. Show the impact that the 2008-09 recession (with the…

A: Demand is the quantity of a product or service that consumers are willing and able to buy at a given…

Q: Provide an example of a "real world" application of the theory of the consumer and then the theory…

A: Consumer theory is an economic concept that examines how individuals make rational choices in…

Q: how do I illustrate an increase in a price of an item resulting in consumers buying another item

A: Law of demand says the more of goods is purchased at low price and vice versa keeping other factors…

Q: For a particular good, a 2% increase in P causes a 12% decrease in Q demanded. Which of these…

A: Along with the original price and demand, a change in the amount wanted and a change in price are…

Q: Your Best Brand Bike Shorts - BBB Shorts have been flying off the shelf. Your chief economist tells…

A: Before campaign: Price elasticity of demand is -5.76 i.e. E1 =-5.76 The price was $240 i.e., P1 =…

Q: Provide two reasons why were consumer good shortages in planned economies (such as the Soviet Union)…

A: Shortage is defined as having less supply of goods even when there is demand for it. Consumer goods…

Q: Why might quantity supplied be relatively unresponsive to a price change?

A: The passage of time has a significant impact on how goods are produced and supplied. Long-term…

Q: You have estimated that the price elasticity of demand for chai at your cafe is 0.9. If you lower…

A: Price elasticity of demand refers to the level with which the demand for a good or service changes…

Q: Agree or disagree, a decrease in supply causes the price of coffe to fall

A: The supply (ss) of a good refers to the quantity that the producers are willing to sell at a…