A characteristic of demand for a good, service, or resource other than its own market price is?

1 answer:

5 0

A characteristic of demand for a good, service, or resource other than its own market price is Nonprice Determinant of Demand

<h3>When the quantity supplied of a good service or resource equals the quantity demanded?</h3>

The price in a market at which the quantity demanded and the quantity supplied of a good are equal to one another; this is also called the “market clearing price.”

<h3>What is equilibrium price also known as?</h3>

An equilibrium price, also known as a market-clearing price, is the consumer cost assigned to some product or service such that supply and demand are equal, or close to equal.

To learn more about Nonprice Determinant, refer

brainly.com/question/26875049

#SPJ4

You might be interested in

The list of the tasks, duties, and responsibilities that a job entails is known as a _____. multiple choice utilization analysis

mash [69]

<span>This is known as a job description. A job description informs potential employees about the duties and responsibilities they will have if hired. The job description also tells potential employees about the position's working conditions and qualifications required and other specifications.</span>

8 0

2 years ago

f the price of a slice of pizza rises from $2.50 to $3, and quantity demanded falls from 10,000 slices to 7,400 slices, calculat

Schach [20]

Answer:

arc price elasticity = -1.64

Explanation:

arc price elasticity = (change in quantity x average price) / (change in price x average quantity)

change in quantity = 7,400 - 10,000 = -2,600 units
average price = ($2.50 + $3) / 2 = $2.75
change in price = $3 - $2.50 = $0.50
average quantity = (10,000 + 7,400) / 2 = 8,700 units

arc price elasticity = (-2,600 x $2.75) / ($0.50 x 8,700) = -7,150 / 4,350 = -1.64

7 0

2 years ago

TRUE/FALSE if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailme

adoni [48]

if a student leaves a book bag in class by accident and the professor takes possession to safeguard the bag, a bailment has been formed-True

<h3>bailment</h3>

A bailment is a form of the legal relationship that focuses on the contractual transfer of assets or property from a bailor to a baile who voluntarily but temporarily gives up possession but not complete ownership. Even though no contract is formalized, a bailment is a type of contractual relationship. The person receiving the property (the "bailee") has custody and control over it for a certain amount of time, during which he or she is responsible for taking reasonable care of it.

To know more about bailment visit the link

brainly.com/question/24157554

#SPJ4

3 0

9 months ago

E2-6 Investment Income LO 2-2, 2-3 What net income would Ravine Corporation have reported for each of the years, assuming Ravine

zheka24 [161]

Answer: investment Income

Explanation: By Carrying the Investment at fair Value or by using equity method would ensure that the investment income is spread adequately across the Corporation over the years be it two years or three years. This would also help the corporation to make proper planning around their budget and finances as regards to units in the corporation.

4 0

3 years ago

According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism) m

emmasim [6.3K]

According to Adam Smith and other classical economists, why is the economic theory supporting market economies (or capitalism<span>) </span>much more realistic than theories supporting command economies<span>? ... Americans prefer to have the </span>market<span>, rather </span>than<span> the government, to manage their </span>economy<span>.</span>

4 0

2 years ago