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alexgriva [62]
3 years ago
11

In general, if a consumer good is produced domestically and consumed domestically, an increase in its price will have which of t

he following effects?
Business
1 answer:
vaieri [72.5K]3 years ago
7 0

ANSWER :

Excess Supply of that good will be created.

EXPLANATION :

Market Equilibrium (without external factors - import & export , of a domestically produced & consumed good) is where : Market Demand = Market Supply.

Demand & Supply are inversely & positively related to prices respectively (law of demand , law of supply)

So : An increase in price will increase supply and an increase in price will reduce demand.

This increased supply & decreased demand due to price rise will create Excess Supply (Supply > Demand)

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Answer:

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Explanation:

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2 years ago
If shuebke's review was conducted in good faith and conformed to generally accepted accounting principles, can superior hold shu
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6 0
4 years ago
Frank lives in an area that experiences frequent thunderstorms. What precautionary measures should he adopt?
Alisiya [41]

Answer:

There are different precautionary measures Frank can adopt. They are:

Explanation:

1. Frank should have outdoor furniture made of concrete instead of metal.

A strike of thunder on a metal surface will propel an electric shock.

2. Frank should pay good or regular attention to the weather forecasts.

He should have a handy device such as a small radio, which will keep him abreast of important happenings in the area.

3. Frank should take cover once a stroke of lightning appears in the sky.

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This will help him be on time to events and meetings.

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3 0
3 years ago
Greater air pollution from car production leads to increased rates of asthma and infant mortality, imposing costs on the rest of
Arada [10]

Answer:

2 more cars will be produced in the market equilibrium versus the social optimum. The right answer is a.

Explanation:

According to the given data we have the following:

demand for cars is given by the function P = 75 − 3q

private costs are given by the function P = 10 + 2q

75 − 3q= 10 + 2q

Therefore, 65=5q

q=13

P=36

Therefore, socially optimal number of cars is 13.

To calculate How many more cars will be produced in the market equilibrium versus the social optimum, we have to calculate the following:

social cost=10+2q+10

=20+2q

75 − 3q=20+2q

55=5q

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P=20+2(11)=42

Therefore, Qm-Qs=13-11

Qm-Qs=2

2 more cars will be produced in the market equilibrium versus the social optimum

5 0
3 years ago
Which of the following statements is true of low customer contact businesses? a. Customer access is relatively important when co
Neko [114]

Answer:

the answer is B

Explanation:

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