guskawaii8082 guskawaii8082
  • 13-01-2020
  • Mathematics
contestada

Item 4 Assume that good X is a normal good. If the price of good X increases, what will happen?

Respuesta :

bhatti4020
bhatti4020 bhatti4020
  • 14-01-2020

Answer:

Demand will fall.

Step-by-step explanation:

The most expected result of a rise in price for a normal good is the reduction in its demand. Any normal product such as shampoos, will face a reduction in it's demand if its prices rise.

Another impact may also be that the demand for a substitute good may rise as a result of price rise in good X.

Another impact that may come occur is the excess supply of good X, as good X will face a loss in demand, there will be more quantity available then demanded by the consumers.

Answer Link

Otras preguntas

1) You have c comic books in your collection. Your friend has 5 more than triple the amount of comic books you have. Write an expression for the number of comic
Do you think professional athletes (such as Barry Bonds) should be allowed to be rewarded for their achievements if they have been caught using steroids? Why or
THANKS! Everyone if you answer this
What are the new dimensions if we shrink the triangle below by a scale factor of 1/3
which one is the right one​
QUICKK Solve systems by substitution Find the solution SHOW ALL WORK Y = 2 3x + 4y = 20 ( , )
I don’t know this question please help me!!!
AQ5. What is a car’s speed in m/s if it travels: Remember to write the speed number WITH the correct unit. a.5 meters in 0.1 seconds? b. 5 meters in 0.2 seconds
HEEELp PLEASEEEEEEE tank uuuuuuuuuu
5:7 and 2:11 are in equal ratios? True OR False? *