Question and answer
What happens to the supply curve when there is a decrease in production? a. Price will increase. c. Producers will produce more at each and every price. b. Price will decrease. d. Consumers will
increase purchases at each and every price.
a. Price will increase. Understanding demand is only half of the story. To understand the market we also need to understand supply. [ And as on the demand side of the equation, the basic law of supply is common sense: as prices rise, supply (quantity of X on the market) increases; as prices fall, supply decreases. In other words, when the price for a good goes up, suppliers of that good will
produce more. When the price of a good goes down, suppliers produce less. ]
Get an answer
Original conversation
User: what is the amount a supplier is willing and able to supply at a certain price

User: What happens to the supply curve when there is a decrease in production? a. Price will increase. c. Producers will produce more at each and every price. b. Price will decrease. d. Consumers will increase purchases at each and every price.

Weegy: a. Price will increase. Understanding demand is only half of the story. To understand the market we also need to understand supply. [ And as on the demand side of the equation, the basic law of supply is common sense: as prices rise, supply (quantity of X on the market) increases; as prices fall, supply decreases. In other words, when the price for a good goes up, suppliers of that good will produce more. When the price of a good goes down, suppliers produce less. ]
Expert answered|iam_claudia|Points 7|

User: Which product’s supply could be elastic in the short run? a. large handmade pizzas c. large diamonds b. large handmade rugs d. large jet airplanes

Weegy: b. large handmade rugs. [ The price elasticity of demand measures the responsiveness of quantity demanded to a change in price with all other factors etc - See more at: ]
Expert answered|iam_claudia|Points 7|

Question|Rated bad
Asked 10/10/2013 6:21:07 AM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
Overtime in a perfect competition, what will happen to output, as compared to cost, from the suppliers’ point of view?
Weegy: If most firms are making abnormal profits in the short run there will be an expansion of the output of existing firms and we expect to see the entry of new firms into the industry. [ Firms are responding to the profit motive and supernormal profits act as a signal for a reallocation of resources within the market. The addition of new suppliers causes an outward shift in the market supply curve. Making the assumption that the market demand curve remains unchanged, higher market supply will reduce the equilibrium market price until the price = long run average cost. At this point each firm is making normal profits only. There is no further incentive for movement of firms in and out of the industry and a long-run equilibrium has been established. ] (More)
Question
Expert Answered
Asked 10/10/2013 10:19:07 AM
0 Answers/Comments
18,417,051 questions answered
Popular Conversations
If and has sides that are 5 times greater than those of , what is ...
Weegy: Solution: C = 2pi(r) 15.7 = 2(3.14)r 15.7 = 6.28r 2.5 = r A = pi(r^2) = 3.14(2.5)^2 = 3.14(6.25) = 19.625 ...
11/22/2014 2:32:51 PM| 3 Answers
. What is the value of 4 cubed? A. 24 B. 43 C. 64 ...
Weegy: The answer is C. 125,000,000 User: What is the value of 324? A. 1,048,576 B. 18 C. 128 D. ...
11/22/2014 4:52:09 PM| 3 Answers
It rained yesterday and is supposed to be sunny today. This is an ...
Weegy: It is an example of B) climate. User: In Hawaii, you can almost always expect 80°F temperatures and daily ...
11/23/2014 3:21:11 AM| 3 Answers
Who is the prime minister of India?
Weegy: Manmohan Singh is the 13th and current Prime Minister of India. User: National flower of India?
11/22/2014 1:28:06 AM| 2 Answers
One of the major advantages of VANs is cost. True or False
Weegy: What is false? Do you have a question for Weegy? User: True or False One of the major advantages of VANs is ...
11/22/2014 2:06:05 AM| 2 Answers
293.55 is 51.5% of what number?
11/22/2014 3:36:30 AM| 2 Answers
When purchasing merchandise for resale for cash, record the ...
Weegy: User: When purchasing merchandise for resale for cash, record the transaction in the Answer: Business documents ...
11/22/2014 6:52:09 AM| 2 Answers
The _____ is the smallest interval in Western music. half ...
Weegy: In Western music, intervals are most commonly differences between notes of a diatonic scale. User: Which types ...
11/22/2014 9:44:17 AM| 2 Answers
Which of the following best describes the advantage of having data ...
Weegy: a. The number of digits that can be included within the data best describes the advantage of having data ...
11/22/2014 11:03:31 AM| 2 Answers
Weegy Stuff
S
L
1
L
P
C
1
P
C
1
L
P
C
1
Points 2381 [Total 14092]| Ratings 10| Comments 2281| Invitations 0|Offline
S
L
Points 1292 [Total 3578]| Ratings 0| Comments 1292| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
Points 718 [Total 14092]| Ratings 0| Comments 718| Invitations 0|Offline
S
L
Points 707 [Total 1228]| Ratings 6| Comments 647| Invitations 0|Offline
S
Points 504 [Total 536]| Ratings 1| Comments 494| Invitations 0|Offline
S
1
L
L
Points 222 [Total 6616]| Ratings 0| Comments 222| Invitations 0|Online
S
L
Points 150 [Total 1446]| Ratings 3| Comments 120| Invitations 0|Offline
S
Points 50 [Total 50]| Ratings 0| Comments 0| Invitations 5|Offline
S
Points 46 [Total 46]| Ratings 3| Comments 6| Invitations 1|Offline
S
Points 40 [Total 40]| Ratings 4| Comments 0| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.