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Related Questions

Why dont you have a choice in electricity suppliers?

The choice in electricity suppliers is usually limited by location. Considering the price of wiring and poles, most places do not have more then one provider.


Why does the supply line slope and to the right?

Because, as the price increases, suppliers are prepared to produce more units. Because, as the price increases, suppliers are prepared to produce more units. Because, as the price increases, suppliers are prepared to produce more units. Because, as the price increases, suppliers are prepared to produce more units.


What factor affect price?

What factors usually affect pricing?


What is the price at which consumers will purchase the same quantity of a product that suppliers will produce?

The equilibrium price is the price at which consumers will purchase the same quantity of a product that suppliers will produce.


If the price of a product is above the equilibrium price what is the result?

suppliers produce more than consumers want to purchase and the suppliers end up with surpluses.


How would suppliers react to a price increase for a product?

Suppliers supply more of the goods as and when prices of that commodity increases.


Why do price and supply have a direct relationship?

Price and supply have a direct relationship due to the law of supply, which states that as the price of a good or service increases, producers are willing to supply more of it. Higher prices typically cover production costs and increase profit margins, incentivizing suppliers to increase their output. Conversely, if prices fall, the incentive to produce diminishes, leading to a decrease in supply. Thus, price fluctuations directly influence the quantity of goods that suppliers are willing to offer in the market.


Suppliers and consumers are affected by any change in the price of a good or service the price change is a?

The price change is a signal that affects supply and demand dynamics in the market. When prices rise, suppliers may increase production to capitalize on higher potential profits, while consumers may reduce their demand or seek alternatives. Conversely, a price drop may lead to decreased production from suppliers and increased consumption from buyers. This interaction highlights the interconnectedness of suppliers and consumers in response to price fluctuations.


How do you write a letter for asking price reduction from suppliers due to raw material reduction?

price reduce letter


What is factor price?

the cost of factor of production


How do suppliers react to price change?

Suppliers typically react to price changes based on their cost structures and market conditions. If prices increase, many suppliers may boost production to capitalize on higher potential profits, assuming demand remains steady. Conversely, if prices decrease, suppliers might cut back on production or seek cost-saving measures to maintain profitability. Additionally, suppliers may adjust their supply strategies based on the perceived long-term sustainability of the price change.


What is the tendency of suppliers to offer more of a good at higher price?

Law of Supply