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
Question 1: 1 Explain the importance of barriers to entry in the control of Monopoly rents. 2 Discuss the extent to which competition leads to market promotion? Questi

Write the forecasting techniques There are many forecasting techniques available to person assisting the business in planning its sales. Take for instance a forecasting metho

What is Normative economics It is concerned with varied corrective measures that a management undertakes under lots of circumstances. It deals with goal determination, goal dev

The relationship between, total expenditure and price elasticity of demand has summed up in the below table: Table: Elasticity and Consumption Expenditure Elas

Consider an economy with two individuals. Individual 1 has (inverse) demand curve for a public good given by P1=60-2Q1, While individual 2 has (inverse) demand curve for the public

Define Managerial economics according to McNair and Meriam McNair and Meriam:  "Managerial economics comprises the use of economic modes of thought to analyse business situatio

Firm and industry supply schedules The plan or table of possible quantities that will be offered for sale at different prices by individual firms for a commodity is called su

Factors influencing the supply of a commodity a)         Own Price of the commodity There is a direct relationship between quantity supplied and the price so that the hig

Discuss the full cost pricing and marginal cost pricing method. Explain how the two  methods differ from each other.

Question 1: Explain the central theme of Scientific Management. Do you think that the scientific management enhances productivity in the organization? Give your arguments.