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Mashutka [201]
3 years ago
6

How supply and demand work together to reach the equilibrium price in the marketplace? Please give at least a paragraph. Thank y

ou!
Business
2 answers:
Arte-miy333 [17]3 years ago
8 0

Answer/Explanation

Supply and demand is one of the most basic and fundamental concepts of ... the most basic and fundamental concepts of economics and of a market economy. ... then become too expensive, demand will go down at that price and the price ... These are examples of how the law of supply and demand works in the real world.

grandymaker [24]3 years ago
6 0

Answer

Before I answer this question, you must note that the equilibrium price is created by both the amount supplied of a certain product as well as how much "customers" there are (or the amount that is bought in all).  This however, is usually not taking account any potential competitors.

For example, let say that the price in creating the product (or buying) is $15. This means that right now, the company loses $15 for one of the products. To make a profit, the selling price must be >$15. However, (unless they are a monopoly, such as, for example, electrical companies) there are competitors that they must fight with to get customers. Of course, there are other things that can affect the price, depending on the demographic and area.

So how does supply and demand affect the equilibrium price? The limits of the supply & the amount of demand would help determine the price by the amount of people buying and the supply of the product.

~

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Answer: A.Select different numbers of sales people as your independent variable and changes in sales of health care servers, as the dependent variable

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Here is the complete question:

As marketing vice president of Health Care Services, Inc., you are in charge of developing an experiment to test the hypothesis that increasing the number of salespeople assigned to a territory will increase sales of health care services in the territory. Which experiment will do this best?

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B. Select three degrees of service health care (poor, good, average) as your independent variable and measure customer responses for each grade using the same number of sales representatives in each territory as your dependent variable.

C. Create an incentive program for your sales force based upon individual performance. Use increases in customer satisfaction as your independent variable and increases in sales performance as your dependent variable.

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variable

From the question, the vice president wants to test the hypothesis that an increase in the number of salespeople that are assigned to a territory will also increase the sales of health care services in the territory.

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