<span>Consider this scenario: in response to an increase in the product's price, producers of mp3 players have increased the quantity supplied. this is an example of Law of Supply. </span><span>The </span>law of supply<span> states that the quantity of a good supplied rises as the market price rises, and falls as the price falls. </span>
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determines the level of interactions and responsibilities associated with employees and managers.
Explanation:
Who i believ is the senator
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In the introduction and early growth stages of the product life cycle, firms often set priorities on growth and/or market share
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Answer:
The answer is inelastic.
Explanation:
Elasticity is the degree of responsiveness of a change in one variable to a change in the other variable.
A good ir service is said to be inelastic if the change in quantity demanded is negligible when the price of the goods or services change i.e the change is not sensitive to price. Mostly, the goods or services in this category are considered to be a neccesity. So if the price increases, consumers will have no choice than to buy it.
