If the price of a complementary good increases, then demand would increase or decrease?
complementary good or complement is a good with a negative cross elasticity of demand, in contrast to a substitute good.This means a good's demand is increased when the price of another good is decreased. Conversely, the demand for a good is decreased when the price of another good is increased.If goods A and B are complements, an increase in the price of A will result in a leftward movement along the demand curve of A and cause the demand curve for B to shift in; less of each good will be demanded. A decrease in price of A will result in a rightward movement along the demand curve of A and cause the demand curve of B to shift outward ; more of each good will be demanded. Example for complementary goods are: bread and butter, tea and sugar etc.DONT FORGET TO UPVOTE IF YOU REALLY LIKED THE ANSWER!!
Suppose corn and wheat are substitutes in production?
Suppose corn and wheat are substitutes in production. In the market for wheat, what would happen if the price of ethanol (which is made from corn) increases dramatically? A. a decrease in demand for wheat B. an increase in demand for wheat C. an increase in supply of wheat D. a decrease in supply of wheat I said it was B. an increase in the demand for wheat, because if the price of ethanol goes up then the supply of ethanol will go up which means a decrease in the supply of corn which will cause in increase in demand for wheat, is this correct?
Why do people assume APRI registration is not as good as AKC?
I don't suppose this is an overly important question... I only ask since I see so many people picking at APRI. The reason I ask is because any dog registered APRI can be registered AKC for free. The AKC has lost so many breeders to APRI due to the cost of registration. Now obviously if you show in AKC you would want to buy an AKC registered dog. So that I understand. However, APRI is a PURE bred registry that has requires a pedigree. They will not register any dog that does not have one. Is it that APRI is being confused with APR? Because they are two very different registries. I happen to breed stock dogs/working dogs which are not commonly recognized in AKC so mine are all registered ASDR (American Stock Dog Registry) but I also have them registered as APRI. Just wondering what the fear of APRI is??? Oh and no I'm not a puppy mill... I do have a husbandry degree... have a history as a vet tech... and all my dogs sleep in my bed with me and visit their vet regularly for all shots and DNA & CERTS. So yes I am a careful and responsible breeder. So I would appreciate your thoughts on the topic not a bash fest. ;-)
Are my answers correct for price change and demand shift?
A: MILITARY SPENDING -- DEMAND SHIFT (LEFT) Military spending [demand] has fallen, with a portion of that spending being on army boots. Less demand for army boots will cause producers to stock a surplus at the current price, so as to avoid that producers reduce their selling prices to the new equilibrium. Hence, the price in the new equilibrium was brought about by a shift in demand [military spending]. B: FISH PRICES -- DEMAND SHIFT (RIGHT) The Pope allowing Christians to eat meat on Friday doesn't really have any bearing on fish prices, since fish is meat too. If you meant red meat (eg. beef, lamb), then there is an increase in the demand for red meat, since those that wanted to eat it on Fridays, but couldn't do so because of doctrinal restraints, can now consume freely. C: GASOLINE TAXES -- PRICE SHIFT (UP) Direct changes in quantity demanded are only brought about by changes in prices which tells us, adhering to the Law of Demand & Price Elasticity of Demand, how consumer demand will react to the price change. Prices move upwards along the demand curve, causing less consumption as a result. D: THE BLACK PLAGUE -- SUPPLY CHANGE (LEFT) That's right; this is not a demand change nor a price change, but a supply change. The price of labour increased dramatically during that period because the labour supply was dying off and some didn't want to seek employment for fear of contracting the plague. Firms had to increase wages to entice those people to risk their lives coming out of their homes, as well as because workers hold more bargaining power in employment (fewer substitute labour). The total adult population in Europe fell and the number of workers searching for a job fell [decrease in labour supply], whilst the proportion of the adult population outside of the labour force (i.e. not employed or seeking employment) increased. Claiming that this is a demand change or rice change is absolutely incorrect.
How does the depreciation of rupees vs dollars affect a common man (i.e., middle class man), and what are its immediate consequences?
you can have exact answer from some economist. I shall give you a general answer. When the currency of any nation depreciates to any other nation which hold the key to necessities, there will be direct impact on the people of the nation. As in our case when rupee falls against dollar, we have to pay more for anything which we buy from USA. we take the case of OIL. Now we buy oil from USA. The same barrel which was suppose costing $100 which in terms of rupees was 5800 when rupee was 58, will now cost rs 6000. Means loss of 200 rs per barrel. Now when we are purchasing price at a costlier rate, the rates of petrol and diesel in Indian market shall go up. When the price of diesel goes up, the freight charges(the travel expenses) goes up for sending various items including vegetables, fruits, milk etc goes up. When freight charges increases the price of everything increases, and since the price rise Inflation increases, which has to be ultimately bear by The common man. So anything which happens in International Market directly affects the common man.Common man can help in the ways the stopping the outflow of Indian currency. Buy products of Indian brands, like prefer Airtel over Vodafone, prefer Babool over Colgate, prefer Macroman over Jockey, and like that in everything. This will stop the outflow of currency and thus the rupee shall appreciate.
Help with these economic questions (multiple choice)?
2. 13 + 8 = 21. (For this question, you have to consider the fact that you have LOST 13 due to not being at work, plus the cost of going to the fair). 3. I would say that is specialisation... but the closest there is 'there are gains from trade', though that is debatable. 4. decrease/increase (I would have not consumer spending would be largely affected by investment by businesses, but the logic suggests decrease.) Also, when the economy is below productive capacity, it would be a period of recession. (This again is not strictly true, but the logic is there.) 5. Uhhh.... depends on your method of efficiency, there are three types, productive efficiency, allocative, and pareto efficiency. So you can't really answer that, Pareto-wise, it is efficient, though productively, not so, as the $300 is not used.
I have to write a reflection paper on the Industrial Revolution?
i don't get wat im supposed to write about........ i mean i've heard a reflection paper is like ur own opinion. but...wat am i suppose to write about it? that i liked the Industrial Revolution? lol.