You were promoted as the manager of a new Clean-Well Sanitary Store that sell cleaning and sanitation products wholesale. You recently read in an article that there the price of vitamins is expected to increase by 20 percent. How will this affect your store’s sales of sanitation products?

Q: How might companies such as Mars and Nestlé react to an increase in the price of sugar?

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Due to the Covid 19 restrictions put on restaurants to carry less number in house. Would this effect…

A: The covid-19 has affected the both supply as well as demand, but demand has been affected most.

Q: The Mumbai Times reported that the metro ridership declined after a fare increase:  There were…

A: Price declines by 4.3% Ticket increased by Rs. 1 to Rs. 5.50 Thus, there is % change in demand =…

Q: Viking InterWorks is one of many manufacturers that supplies memory products to original equipment…

A: The demand function of memory card is shown below.

Q: In advertising, a business is not only making consumers aware of the existence of the product and…

A: Income elasticity is a parameter that measures how the demand for a service fluctuates to a change…

Q: A good that is a luxury, that is expensive and that has many substitutes is likely to have a price…

A: Option D is correct

Q: A situation that is current combination of goods and services does not give maximum satisfaction is…

A: A situation that is current combination of goods and services does not give maximum satisfaction is…

Q: If the price of X decreases and this decreases the demand for Y, then

A: If the quantity demanded of a commodity decrease due to change in the price of another commodity is…

Q: Scenario Between recalls on mass-produced commercial dog food and a general understanding of the…

A: The above question says that the demand for natural or organic dog food is experiencing a…

Q: Explain how utility could be used in a decision where performance is not measured by monetary value.

A: Utility is resisted as a term used to portray the fulfillment an individual gets from the…

Q: If iPad is considered a normal good, when income in Camarillo goes up, the effect on iPad in…

A: In a market, if a good is a normal good, it will have an inverse relationship with the price, and a…

Q: If two goods are complements, a decline in the price of one will cause an increase in the demand for…

A: The cross elasticity shows the response of the change in the price of one commodity on the demand of…

Q: A recent study suggested that excessive coffee consumption increases risk of stroke. This scare…

A: Based on the study which states that excessive coffee consumption increases the risk of heart…

Q: Provide at least two examples of applications of demand elasticities in real life decisions?

A:

Q: Describe the price sensitivity you expect your customers to have based on the price elasticity for…

A: Introduction Price elasticity of demand indicates the degree of responsiveness of quantity demanded…

Q: If you are selling Mercedes-Benz cars in your showroom, what product "substitutes" are available to…

A: Substitutes are those goods that can be used in place of one another. Some goods are perfect…

Q: Analyze how a store owner can continue to increase prices on inelastic goods

A: Inelastic good refers, the responsiveness of quantity demanded of a good does not sensitive when…

Q: A study indicated that the optimal price for a consumer product is $32.45. Most products in the…

A: When there are many substitutes available in the market for a particular good, its demand becomes…

Q: •If you are the manager of a company, and you recently discovered that your goods are considered by…

A: In the market, goods are classified according to consumer behavior, and the relation between the…

Q: According to the graph, if price increases from $10 to $15, total revenue will

A:

Q: demand increases, at the new equilibrium: a) the price of the good decreases and the amount…

A:

Q: Which products are for you not price sensitive, so that you would buy them even if the price…

A: Price sensitive refers to the situation where the changes in price leads to affect the quantity of…

Q: How would marginal utility and market demand be affected by a rise in the price of a contemporary…

A: A complementary product is a product or service that adds value to another product or service. In…

Q: Explain why you think that the demand of one product may diminish as prices are increased

A: As per Law of Demand, the demand of any good decreases with increase in price given other…

Q: Identify the flaw in this analysis: “If more Bahamians go on a low-carb diet, the demand for pasta…

A: The statement is wrong. When people change their preferences the demand for the product also…

Q: Researchers find that drinking beer has positive health effects. What impact will this have on the…

A: Producer surplus is defined as the difference between the amount the producer is willing to supply…

Q: Suppose hibiscus tea becomes super-trendy and so demand for hibiscus plants doubles (i.e. twice as…

A:

Q: A good with many close substitutes is likely to have relatively demand, since consumers can easily…

A: Price elasticity of demand The Price elasticity of demand is the reaction of demand due to change in…

Q: Consumers expect the price of gasoline to increase due to a hurricane in the Gulf of Mexico.

A: When any factor other than the price of the product causes a change in the demand curve or shift in…

Q: More fast food restaurants will enter the market, and Manuela's demand curve will become more…

A:

Q: How has the supply and demand of a specific product affected your/your family’s purchasing…

A: The supply and demand for a specific good affect the consumer in several ways.  The interaction of…

Q: Inferior goods are best defined as      A) goods that only those who are relatively poor purchase.…

A: Inferior goods are defined as those goods whose demand has an inverse relationship with the income…

Q: How does the equilibrium price of a normal commodity change when income of its buyers falls? Explain…

A: A normal good or a normal commodity refers to a good whose demand increases as the income of an…

Q: company intentionally limit supply when consumers want more of a product?

A: A company intentionally limit supply when consumers want more of a product in order to get higher…

Q: Draw a correctly labeled graph showing the demand for apples. On your graph, illustrate what happens…

A: Meaning of Demand and Supply: The term demand refers to the willingness of an individual to…

Q: You are in the market for a new couch and havefound two advertisements for the kind of couchyou want…

A: We define willingness to accept as the minimum amount that a person would be willing to accept to…

Q: What is the best price that producer must determine so as to achieve maximum revenue

A: Total Revenue is the product of the number of units sold multiplied by the price. Similarly, the…

Q: After analyzing the demand for his products, Ahmed realized that the demand for his products is…

A: Price elasticity of demand measures the percentage change in quantity demanded of a good due to a…

Q: ou love peanut butter.  Other spreads are just not as good, as far as you're concerned. You hear on…

A: The number of units of a commodity that a consumer is willing and able to purchase at the given…

Q: Conditions for market effiency

A: Market efficiency not necessarily be market price be equal every point of time. it should be free…

Q: Sly Bailey, the Trinity Mirror Chief Executive, sought to boost revenues of the Daily Mirror in 2004…

A: Price elasticity of demand of a product helps to find the responsiveness of change in consumption…

Q: Task 6: Fishbone Organizer Instructions: In this work we will assume your demand as a consumer are…

A: Factors which can change demand for clothes 1.Taste of consumers If the taste of the consumers…

Q: You are a manager of an advertising company. The company is running short of funds, so you decide to…

A: The revenue of a firm can be calculated by multiplying the price of goods by quantity. Total Revenue…

Q: A simple supply curve shows a relationship between the Multiple Choice price of a good and the…

A: Supply curve is upward sloping for a good.

Q: If price rises Multiple Choice there must have been a decrease in equilibrium quantit there may have…

A: Equilibrium is achieved at the output level where quantity demanded equals quantity supplied.

Q: During 2009, incomes fell sharply due to the financial crisis of 2008-2009. This change likely led…

A: The normal goods are goods which demand increases with increase in income that means income effect…

Q: Type the correct answer in the box. Spell all words correctly. Vivian conducted market research on…

A: In economics, elasticity is defined as the responsiveness of the quantity demanded of a good to…