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if sellers expect the price of a good to rise in the future, what are they likely to do? A) put more goods on the market immediately B) store goods now to sell more in the future C) raise their prices now D) set prices according to the law of demand
Sellers would be more likely to go for B. Store goods now to sell later - That way they are sure of getting the best possible prices for their goods. [ However, in business things don't always go to plan, and in my personal opinion, it would be better to lean more towards D. That way you are not left with a lot of products which (possibly) might not sell at a later date and they will then be
worthless. ]
Expert answered|elysia2003|Points 119|
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Asked 6/16/2012 11:51:13 AM
Updated 3/5/2013 6:37:30 AM
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If sellers expect the price of a good to rise in the future, they are likely to do B) store goods now to sell more in the future
Added 3/5/2013 6:37:30 AM
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what happens when the price decreases in the case of a product that has elastic supply?
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Updated 6/16/2012 11:44:30 AM
1 Answer/Comment
There is a decrease in demand. So in order to attract more buyer the business has decreased the price. If there was more people buying the product then there would be an increase in demand. The business would take advantage of the increase of consumers by raising prices. However that is not the case here. This is a decrease in demand
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Asked 6/16/2012 11:43:20 AM
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