How does producers expectation of a price fall affect the supply curve of a product? There will be
A moment along the curve
A leftward shift
No shift of the supply curve
A shift to the right
Correct answer is D
If sellers expect that the price of the good will be decreasing in the future, then they are likely to sell more today. This causes an increase in supply and a rightward shift of the supply curve.
108tons
52tons
-52tons
-108tons
Correct answer is A
Qs = - 80 - 0.7p
(minus x minus = +)
Qs = 80 + 0.7(40)
Qs= 80 + 28
Qs= 108
Positively sloping supply curve
Perfectly elastic supply curve
Backward bending supply curve
Perfectly inelastic
Correct answer is A
No explanation has been provided for this answer.
Price elasticity of demand or supply measures how responsive
Consumers are to a change in price
Sellers are to a change in price
Sellers are to a change in price
Buyers are to a change in income
Correct answer is C
Price elasticity of supply or demand measures the responsiveness to the supply of a good or service after a change in its market price.
The demand for torch and batteries is an example of
Competitive demand
Composite demand
Complementary demand
Derived demand
Correct answer is C
Complementary demand: Demand for a product generated by the demand for a related but different product, such as by computers for software, vehicles for tires, shaving razors for blades.