what is customer satisfaction for food ?

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: how did we get price at $10?

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

Q: Is the change in revenue related to an increase in units sold, an increase in prices, or…

A: Revenue is the value of sold products. It is derived as price per unit multiplied by the quantity…

Q: What do you think Is the relationship between price and quantity supplied?

A: Quantity supplied refers to the amount of good to be supplied by the producer or supplier at a…

Q: What is the relationship between MR and Price?

A: Microeconomics refers to the branch of economics that deals individually instead of aggregates 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: Describe the need versus the want for a Samsung cellphone.

A: Let us image the case of a farmer who produces barley. The farmer may receive many customers for his…

Q: What is the meaning of the term utility?

A: The economics as a study is based upon the idea that the resources which the economies have tend to…

Q: Find out the factors that affect the demand of this product  OLIVE OIL

A: The demand for any product is dependent upon : Price of the Product. The Consumer's Income.  The…

Q: What events might prompt consumers to demand fewer goods at current prices?

A: To determine the events that may prompt consumers to demand fewer goods at current prices.

Q: Evaluate the behavior of consumers in terms of the demand for products

A: The economy consists of the various economic agents which would result in the producers, consumers…

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: 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: How do demand and supply curves impact your life?

A: Demand and supply are very important for life. Basic products as well as luxurious products are…

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: How do we measure utility? Explain

A: The utility is the want satisfying power of the commodity. The utility would result in the sense of…

Q: There is a sale going on at XYZShop. As a consumer, can you consider the sale or increase in demand…

A: Sale at any shop is a strategy to sell out the inventories that has piled up because the products or…

Q: What is consumerism?

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

Q: Which shifter,increase or decrease,drawing,change in price,change in quantity

A: Incraese in the price of gasoline will decrease the demand for gasoline. Demand curve will shift…

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: How does the demand curve look like? Graph it.

A: Demand curve representation of the law of demand, depicts how much quantity of commodity is demanded…

Q: How would marginal utility and market demand be affected by a rise in the price of a contemporary…

A: A complementary product is a product or service that adds value to another product or service. In…

Q: Explain how the equilibrium, or market, the price of a product is examined.

A: Equilibrium is known as the state of balance, the state of rest from where there is no tendency to…

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: Explain why you think that the demand of one product may diminish as prices are increased

A: As per Law of Demand, the demand of any good decreases with increase in price given other…

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: Explain the four kinds of utility.

A: In economics, to represent benefit or worth, the idea of utility is utilized. Its use has grown…

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: What is the trend of the total utility

A: Total utility refers to the overall satisfaction or usefulness that a consumer derives from…

Q: If a company is running short of funds and they want to increase revenue. Should you increase or…

A: When the firm runs short of funds then increasing revenue is the best way to fulfill fund…

Q: What are the factors which determine the choice that a person makes between buying a Honda Accord or…

A: The demand for the commodity is directly related to the income or purchasing power of the consumer.…

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: 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…