All categories

1 year ago

According to the law of supply - as the price of a good - service - or resource rises:______.

1 answer:

6 0

According to the law of supply - as the price of a good - service - or resource rises: it results in an increase in the quantity supplied.

Law of supply has direct relation with prices and quantity supplied.

Prices and quantities are directly linked with one another. Quantities respond in the same way as price does. It means that when the price paid by the buyers for goods and services increases the supplier increases the supply of goods and services as well. The law of supply basically shows producer behavior when there is a change in the price of products offered by them.

As the basic aim of every business organization is to increase profit and sales when they expect to receive higher profit from something they produce more to earn more profit. Similarly, if the prices fall the producers are reluctant to produce more. If the demand from consumers rises the prices will increase and the quantity supplied will also increase. If the demand decreases price will also fall and the quantity supplied will also decrease.

You can learn more about law of supply at

brainly.com/question/26374465

#SPJ4

You might be interested in

This year, Mesa Inc.’s before-tax income was $11,252,000. It paid $529,000 income tax to Minnesota and $451,000 income tax to Il

Sever21 [200]

Answer:

Before-tax income $ 11,252,000

Less: Deduction for state income tax(529000+451000) $ 980,000

Taxable Income $ 10,272,500

Tax rate 21%

Federal income tax $ 2,157,225.00

Mesa’s combined tax rate

= ([$980,000 state tax + $2,157,225 federal tax] ÷ $11252000) 27.88%

Explanation:

6 0

2 years ago

Professional organizations provide reliable nutrition information. which professional organization is the largest organization o

sesenic [268]

<span>Nutrition professionals working in the nutrition education.The American Dietetic Association (ADA) is the organization, this organization of food and nutritional professionals is committed to improving the nation's health. And this is the large organization of food and nutrition professionals.</span>

6 0

2 years ago

Look at the tables below, which show, respectively, the willingness to pay and willingness to accept of buyers and sellers of in

Anastaziya [24]

Answer:

(a) The equilibrium quantity is Q* = 6 (b) The quantity supplied by private sellers is Q* = 0 (c) The new new equilibrium price is $9, the new equilibrium quantity is = 5 bags, and the bags were oranges were over produced is Q* = 1

Explanation:

Solution

(a) When the equilibrium price is at $8, the the quantity of equilibrium is stated as:

From the data given, when the price at equilibrium is $8, then the six consumers namely, bob, barb, bill, brat, Brent, Betty were all willingly to pay much more than the equilibrium price and the 6 producers namely, Carlos, Courtney, chuck, Cindy, Craig, chad accepted, because the price at equilibrium is greater than the minimum accepted price.

So,

The equilibrium price is Q* = 6

(b) If all the buyers are free riders, then the maximum willingness of the price of buyers is $0, because the willingness of the buyer's is lesser than the accepted minimum price of the sellers, for this producers will not be willingly to produce, thus the supplied quantity by private sellers is 0

Hence,

Q* = 0

So,

The new price of equilibrium is = $9

At the new equilibrium price $9 where 5 consumer and producer were willing and accepting to pay more than the equilibrium price

So,

The new equilibrium quantity is Q* = 5 bags

Now,

If the new equilibrium quantity of 5 bags is an optimal quantity,

Then,

(6-5) which results to 1 bag were overproduced.

Therefore,

Q* = 1

5 0

2 years ago

Andrew gillum experience

MrRa [10]

A lot of hatred in school

5 0

2 years ago

You are 40 years old. Your investment portfolio currently consists of: (1) a savings account, with a $16,000 balance, (2) certif

murzikaleks [220]

Answer:

Option C is correct one.

<u>The investment strategy is conservative. </u>

Explanation:

This is so because most of the money is either in cash or certificates of deposits. Portfolio also consists 40% of bonds with 6% interest rate and 40% equities are also only of the employer's stock. The rate of appreciation and dividend is also very low on this stock. Hence due to all these factors we can say the strategy is conservative.

8 0

2 years ago