Answer: b
explanation: i took the test
Answer:
<h2>see. I hope it's helpful for you lol</h2>
Explanation:
<h3>i need friend lol can you my friend</h3>
Answer:
feature differentiated products
Explaination:
i just took the quiz
Answer:
C. upward, rises
Explanation:
According to misperception theory of economics when a supplier observes that price of its goods is declining, there is misperception to supplier that relative price will also decrease. This leads him to supply less goods in the market.
Hence, SRAS curve rises so that for same supply there is increase in price and hence equilibrium is restored.
Yes, supply and demand affects the changes of prices in a price-setting
system because of law of supply and demand.
The law of supply and demand is an economic theory which explains that how supply and demand are related to each other. It's a fundamental economic principle that when the supply exceeds demand the prices will fall. When demand exceeds supply, prices rise.
If there is an increase in supply for goods and services while demand remains the same, prices always fall to a lower equilibrium price and a higher equilibrium quantity of goods and services.
If there is a decrease in supply of goods and services while demand remains the same, prices tend to rise and a lower quantity of goods and services.
The same inverse relationship is applicable for the demand for goods and services. However, when the demand increases and supply remains the same, the higher demand will lead to a higher equilibrium price and vice versa.
To know more about law of supply and demand here:
brainly.com/question/4596280
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