HomeworkLib
Question

1.- How does an entrepreneur decide whether to supply a good? Will entrepreneurs continue to supply...

1.- How does an entrepreneur decide whether to supply a good? Will entrepreneurs continue to supply a good or service if consumers are unwilling to pay a price sufficient to cover the per-unit cost? 2. Incentives matter. Explain why businesses and entrepreneurs are more likely to voluntarily undertake the projects that consumers value highly relative to price and less likely to undertake the government-sponsored projects in which the per-unit cost of production is above the price consumers willingly pay.

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

1) :- they will check the market and see weather there is demand Or not

Now a days it is easy And critical too to get feedback of customer:- question are like

Do you want this product

Would u pay for this item etc

Based on this feedback, an entrepreneur will assess weather there is chance to sell the item

They always try to sell their products in such market which are favourable for good and also they got profit on each sell.

0 0
Add a comment
Know the answer?
Add Answer to:
1.- How does an entrepreneur decide whether to supply a good? Will entrepreneurs continue to supply...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Explain why businesses and entrepreneurs are more likely to voluntarily undertake the projects that consumers value...

    Explain why businesses and entrepreneurs are more likely to voluntarily undertake the projects that consumers value highly relative to price and less likely to undertake the government-sponsored projects in which the per-unit cost of production is above the price consumers willingly pay.

  • 7. Taxation - An algebraic approach Suppose the supply of a good is given by the...

    7. Taxation - An algebraic approach Suppose the supply of a good is given by the equation 0= 360P – 360, and the demand for the good is given by the equation OP-840 - 120P. where quantity (Q) is measured in millions of units and price (P) is measured in dollars per unit. The government decides to levy an excise tax of $2.00 per unit on the good, to be paid by the seller. Calculate the value of each of...

  • Public Goods EBE2053/EXERCISE 5 1. A pure public good is: a. one that can easily be...

    Public Goods EBE2053/EXERCISE 5 1. A pure public good is: a. one that can easily be sold by the unit. b. one that is nonrival in consumption. c. one whose benefits are not subject to exclusion. d. both (b) and (c) 2. The marginal cost of providing a certain quantity of a pure public good to an additional consumer after it is provided to any one consumer is: a. zero. b. positive and increasing. c. positive and decreasing. d. positive...

  • 6a. In a market where the supply curve is inelastic, how does an excise tax affect...

    6a. In a market where the supply curve is inelastic, how does an excise tax affect the price paid by consumers and the quantity exchanged? Illustrate with a market diagram. 6b. In the market diagram, show the amount of the excise tax. Do consumers or suppliers pay a higher proportion of the tax? 7. Write the formula for calculating cross price elasticity of demand. Beneath the formula, on four separate lines, identify the two variable terms in the numerator and...

  • 1. Which statement is TRUE in a market with a price ceiling? a. Buyers and sellers...

    1. Which statement is TRUE in a market with a price ceiling? a. Buyers and sellers experience unexploited gains from trade b. Resources are allocated to their most efficient uses. c. The supply of goods is sold by the sellers with the lowest costs. d. The supply of goods is bought by the buyers with the highest willingness to pay ANS 2. A number of cities and states have banned smoking in bars because of secondhand smoke. In cities without...

  • Question 1: A recent study found that the demand and supply schedules for Frisbees are as...

    Question 1: A recent study found that the demand and supply schedules for Frisbees are as follows: Price per Frisbee Quantity Demanded Quantity Supplied $11 1 million 15 million 10 2 12 9 4 9 8 6 6 7 8 3 6 10 1 a) What are the equilibrium price and quantity of Frisbees? b) Frisbees manufacturers persuade the government that Frisbees production improves scientists, understanding of aerodynamics and thus is important for national security. A concerned Parliament votes to...

  • Part 1. ABC Manufacturing is trying to decide whether to eliminate Department Z, which has produced...

    Part 1. ABC Manufacturing is trying to decide whether to eliminate Department Z, which has produced low profits or losses for several years. The company’s departmental income statements show the following: A Z Total Sales $700,000 $175,000 $875,000 Cost of goods sold 461,300 125,100 586,400 Gross profit 238,700 49,900 288,600 Operating expenses Direct expenses     Advertising 27,000 3,000 30,000     Store supplies used 5,600 1,400 7,000     Depreciation – store equipment 14,000 7,000 21,000     Total direct expenses 46,000 11,400...

  • Question 12 pts When consumers would have been willing to pay higher prices at various quantities...

    Question 12 pts When consumers would have been willing to pay higher prices at various quantities consumed than the market clearing price, the differences are called consumer surplus. monopoly profits. opportunity cost. deadweight loss. Flag this Question Question 22 pts A demand relationship in which the quantity demanded changes exactly in proportion to the change in price is elastic. unit-elastic. inelastic. consistent with zero elasticity. Flag this Question Question 32 pts A demand relationship in which a given percentage change...

  • 1. Suppose you make silver jewelry. If the price of silver wire (a raw material) falls,...

    1. Suppose you make silver jewelry. If the price of silver wire (a raw material) falls, we would expect you to: a. be willing and able to produce less jewelry than before at each possible price. b. be willing and able to produce more jewelry than before at each possible price. c. face a greater demand for your jewelry. d. face a weaker demand for your jewelry. _____ 2. Consider the market for portable air conditioners, initially in equilibrium. When...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT