Answer:
Since the price of shoes is lower than equilibrium price, at $50 there is a demand surplus because consumers would be willing to pay more for the shoes. That demand surplus will result in an excess demand, that is why consumers are willing to buy 1,000 pairs of shoes but since the price is too low, suppliers will only sell 500 pairs.
Answer:
The correct option that would cause pricing to be on par with the rest of the market is option C) similar products. When a company offers products that are similar in terms of features, quality, and value to what competitors are offering, it is more likely to price its products in line with the market average.
If a company's products are significantly different or unique compared to others in the market (option A), it may have more flexibility in setting higher or lower prices depending on factors such as exclusivity or innovation.
Expenses (option B) can certainly influence pricing decisions, but they do not necessarily ensure that a company's prices are on par with the market. High expenses could result in higher prices, but a company may choose to compete on price by keeping its expenses low and offering more affordable products.
Brand positioning (option D) can also impact pricing, as premium or luxury brands may charge higher prices based on their brand image and perceived value. However, brand positioning alone does not guarantee that pricing will be on par with the rest of the market.
Answer:
Thiru Sandeep Saxena, IAS, Additional Chief Secretary to Government, Environment and Forests Department, Government of Tamil Nadu.
B. demand.
C. the Law of Supply.
D. supply.
Consumer tastes or preferences most directly impact demand, as it is driven by consumer behavior. Their preferences may also indirectly influence supply and elasticity, with changes leading to shifts in production or affecting how price changes impact demand.
Consumer tastes or preferences are most likely to have an effect on B. demand. This is due to the basic economic principle that demand is driven by consumer behavior. If consumers prefer a particular product or service, demand for that product or service will increase. On the other hand, if consumers' preferences change and they no longer want a particular product or service, demand will decrease.
Although consumer preferences could indirectly influence supply and elasticity, the most direct impact is on demand. In terms of supply, if consumers' preferences shift towards a specific product, it may prompt manufacturers to increase production, which would increase the supply. As for elasticity, when there is a strong preference or need for a product, its demand tends to be inelastic, as changes in price have less effect on the quantity demanded.
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B. interest
C. IRA
D. investments