1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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)

You might be interested in
Bill died december 28, 2016. what is the due date for filing form 706 for his estate?
Alex_Xolod [135]
Sorry you need a little more detail for your question.
3 0
3 years ago
Increased interest in cultural diversity can be attributed to all of the following except __________.
Igoryamba
Increased interests in cultural diversity can be attributed to personal travel, advances in communication and international trade, except natural selection. Cultural diversity refers to having a respect to different cultures and natural selections is not part of this.
7 0
4 years ago
Read 2 more answers
Tee Time Golf Resort plans to use famous Kauri wood from New Zealand for parts of the interior of the magnificent clubhouse at i
LekaFEV [45]

Answer: C. it's a good time to buy the wood.

Explanation:

$500 = 738NZ dollars, therefore 738 NZ dollar ÷ $500 = 1.476NZ dollar

The current exchange rate is $1 = 1.476NZ dollar

10 foot slab costs $5000, Tee Golf Resort will pay $ 3387.53 ($5000/1.476NZ)

if they import wood from New Zealand. Tee Golf Resort will pay less than $5000 if they import Wood from New Zealand at the current exchange rate. This is a Good time for them to import woods

5 0
3 years ago
Suppose that when the Fed decreases the money​ supply, households and firms initially hold less money than they want​ to, relati
solmaris [256]

Answer:

The correct answer is A

Explanation:

When Fed decreases the money supply in the market, then there prevails the shortage of the money at the prevailing rate of interest. So, the interest rate need to be increased in order to dissuade people from holding the money. Therefore, the households and the firms will sell the treasury bills and other kind of financial assets by decreasing the prices and which lead to increase in the interest rate.

3 0
4 years ago
There are three rooms. The first one is filled with very important papers. The second one is filled with money. The third one is
Kryger [21]
All of them at the same time? This is hard.... 0.0
8 0
4 years ago
Read 2 more answers
Other questions:
  • Norfolk sporting goods purchases merchandise with a catalog list price of $30,000. the retailer receives a 30% trade discount an
    7·1 answer
  • What is an example of a health hazard?
    10·2 answers
  • Denise's uncle wants to know how efficiently his firm manages its assets and operations to generate net income. Thus, he has con
    8·1 answer
  • Read this carefully: In 1987 after 900 days of research and work, Norwegian Prime Minister Gro Harlem Brundtland developed what
    9·1 answer
  • Presented below are a number of balance sheet items for Montoya, Inc. for the current year, 2020.
    9·1 answer
  • What is total revenue , average revenue and marginal revenue ?Explain relationship among these​
    14·2 answers
  • Actual sales price is 20% higher than budgeted. Actual sales revenue in dollars is 14% higher than budgeted. Actual sales volume
    10·1 answer
  • Which displays the data while retaining all the properties of the charts?
    8·1 answer
  • Which account would normally not require an adjusting entry?
    9·1 answer
  • assume the price of a product sold by a purely competitive firm is $5. given the data in the accompanying table, at what output
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!