Factors influencing supply curve - prices of related goods, Managerial Economics

Prices of other related goods

i)           Substitutes:  If X and Y are substitutes, then if the price X increases, the quantity demanded of X falls.  This will lead to increased demand for Y, and this way eventually lead to increased supply of Y.

ii)         Complements:  If two commodities, say A and B are used jointly, then an increase in the price of A shall lead to a fall in the demand for A, which will cause the demand for B to fall too.

Posted Date: 11/27/2012 5:59:38 AM | Location : United States

Related Discussions:- Factors influencing supply curve - prices of related goods, Assignment Help, Ask Question on Factors influencing supply curve - prices of related goods, Get Answer, Expert's Help, Factors influencing supply curve - prices of related goods Discussions

Write discussion on Factors influencing supply curve - prices of related goods
Your posts are moderated
Related Questions
Variable Costs (VC) These are costs, which vary with the level of production.  The higher the level of production, the higher will be the variable costs.  They are associated

Indian industry has progressed a lot because of globalization. A lot of development has been seen in Indian industry.

WHY MANAGERS NEED TO KNOW ECONOMICS The influence of economics towards the performance of managerial duties and responsibilities is of major importance. The importance and cont

#queCase Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The company is co

When given two demand functions to calculate elasticity of demand do you use point elasticity or arc elasticity of demand formula

Advantages of Perfect Market It achieves, subject to certain conditions, an allocation of resources which is: socially optimal" or "economically efficient" or "pareto effi

Advantages of a Free Market System Incentive:   People are encouraged to work hard because opportunities exist for individuals to accumulate high levels of wealth. Choice

REALISM OF PERFECT COMPETITION The assumptions of perfect competition are obviously at variance with the conditions which actually exist in real world markets.  Some market

Techniques of Managerial Economics Managerial economics draws on a wide range of economic tools, concepts and techniques in decision-making process. These concepts can be cons

Part A : Select one of the following economic issues and discuss how it impacts on your organisation. Analysis of consumer demand Cost analysis Market structure and