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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.

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Answer: C. Access the current reality

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2 years ago

Which of the following would not result from all countries specializing according to the principle of comparative advantage? a.

Anna71 [15]

Answer:

The correct answer is option d.

Explanation:

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The improved allocation will shift the production possibilities outward as countries will be able to produce more.

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2 years ago

Game Theory and Strategic Choices -- End of Chapter Problem You have developed a new computer operating system and are consideri

pentagon [3]

Answer:

Microsoft will choses High price and you will choose to enter the market .

Explanation:

The Nash equilibrium

<u> enter Don't enter</u>

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From the Nash equilibrium the best time for you to enter the market is when Microsoft Charges a high price

While the best time for Microsoft is when it charges a high price and you do not enter the market

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2 years ago

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Answer:

c. cost-leadership strategy

Explanation:

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2 years ago

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KonstantinChe [14]

Answer:

False

Explanation:

Monopolistic competition is a type of imperfect market where there are many seller competing with each other but with differentiated products. Monopolistic competition is socially inefficient. The product variety externality implies that there is too little entry of new firms in the market.

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2 years ago