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Prices of goods used to increase with the cost of ingredients, cost to produce them, and maybe if there was a shortage. In our times, a company that purchases a product may raise the price to the value they perceive it has.
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In what would the price of a good be most likely to increase?
People would consume less of the good and look for substitutes
In which situation would the price of a good most likely increase?
A rise in demand happens to quickly for produces to increase production to keep up.
Which of the following situations would the price of a good be most likely to increase?
An increase in production costs results from a rise in wages.
What would happen in the for a good if demand increase and supply decreases?
In the short run, there would be oversupply.
Which of these is most likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same would lead to a decrease in the price of a good.
In what would the price of a good be most likely to increase?
People would consume less of the good and look for substitutes
In which situation would the price of a good most likely increase?
A rise in demand happens to quickly for produces to increase production to keep up.
What is most likely to lead a increase in the price of a company's stock?
A good earnings report
Which of the following situations would the price of a good be most likely to increase?
An increase in production costs results from a rise in wages.
What would happen in the for a good if demand increase and supply decreases?
In the short run, there would be oversupply.
How does gross profit margin increase?
Increase in the price at which you SELL the good if the cost price at which you BOUGHT/PRODUCED the good remains the same or Decreased Cost Price with a Stable Selling Price. Basically anything that would result in the difference between the Selling Price and Cost Price increasing favourably.
Which of these is most likely to lead to a decrease in the price of a good?
Demand decreases and supply remains the same would lead to a decrease in the price of a good.
According to the law of supply What does an increase in the price of a good service or resource lead to an increase in?
Supply. If you are a supplier of a good - the price for your good increase - you will produce more to take advantage of this
What is the most likely result when the price of a good with elastic demand is raised by 10 percent?
quanity sold will increase by 10 percent
What is most likely result when the price of a good with elastic demand is raised by 10 percent?
quanity sold will increase by 10 percent
What is the likely effect on the demand for wheat if the government introduce price ceiling?
It depends on what the price ceiling amount is set to. If it is high, then sellers may set prices at that and then the demand will fall. Whereas it could be a good thing, as it would prevent the price increasing by a large amount and being set too high, which would mean the demand for wheat would increase.
How do substitute goods and complementary goods affect demand for another good?
Substitutes and complements is the fact that a change in price of one of the goods has an impact on the demand for the other good. For substitutes, an increase in the price of one of the goods will increase demand for the substitute good. (It's probably not surprising that an increase in the price of Coke would increase the demand for Pepsi as some consumers switch over from Coke to Pepsi.) It's also the case that a decrease in the price of one of the goods will decrease demand for the substitute good.
