Answer:
The correct answer is: a decrease in the price of cattle.
Explanation:
Ranchers can raise either cattle or sheep on their land. They will choose the option which is most profitable. A decrease in the price of cattle will make it less profitable. So ranchers will prefer to raise more sheep.
This will cause the supply of sheep to increase. As a result, the supply curve will move to the right.
An increase in the demand for cattle will increase its price. Consequently, its supply will increase and that of sheep will decrease. An increase in the price of sheep feed will make it costly to raise sheep, so its supply will decrease.
An increase in the price of sheep will cause its quantity supplied to increase. The supply curve will remain the same.
Answer:
Price inelastic
Explanation:
The demand for a good is price inelastic when changes in price dont affect the quantity demanded.
Barry's customers do not consider price when making purchases. Prices, therefore, do not influence their purchasing decisions. If prices change, the quantity demanded would remain unchanged.
I hope my answer helps you.
Answer:
true so that you know what you have spent
Answer:
Increase.
Explanation:
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of demand states that, the higher the demand for goods and services, the higher the price it would be sold all things being equal.
According to the law of demand, there exist a negative relationship between the quantity of goods or services demanded and the price of goods or services i.e when the prices of goods and services in the market increases or rises: there would be a significant decline or fall in the demand for this goods and services.
This ultimately implies that, an increase in the price level of a product usually results in a decrease in the quality of real output demanded along the aggregate demand curve.
In this scenario, an increase in health consciousness increases the demand for fitness centers across the country. Other things being equal (ceteris paribus), we can expect the wages of fitness instructors to increase because their services would be sought or demanded by the trainers.
Answer:
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