Get premium membership and access questions with answers, video lessons as well as revision papers.
Increase in supply shifts the supply curve to the right. There will be excess supply at the same equilibrium price. The competition among sellers to sell their excess quantity leads to fall in price. When price falls demand rises. These changes
continue till D=S at a new equilibrium. The new price will be less than the original equilibrium price
marlinbito answered the question on May 12, 2018 at 12:54
- Explain the distinction between ‘’change in quantity supplied” and “change in supply”(Solved)
Explain the distinction between ‘’change in quantity supplied” and “change in supply”
Date posted: May 12, 2018. Answers (1)
- Define marginal cost. Explain its relation with average cost(Solved)
Define marginal cost. Explain its relation with average cost
Date posted: May 12, 2018. Answers (1)
- Explain how changes in prices of inputs influence the supply of a product.(Solved)
Explain how changes in prices of inputs influence the supply of a product.
Date posted: May 12, 2018. Answers (1)
- What does the Law of Variable proportions show? State the behaviour of marginal product according to this law(Solved)
What does the Law of Variable proportions show? State the behaviour of marginal product according to this law
Date posted: May 12, 2018. Answers (1)
- Due to the increase in population the demand for agricultural land has” increased”. But the supply of agricultural land is fixed. Explain two methods...(Solved)
Due to the increase in population the demand for agricultural land has "increased". But the supply of agricultural land is fixed. Explain two methods by which the demand for land can be “decreased”
Date posted: May 12, 2018. Answers (1)
- Explain the implications of the feature ‘barriers to entry’ under monopoly(Solved)
Explain the implications of the feature ‘barriers to entry’ under monopoly
Date posted: May 12, 2018. Answers (1)
- Explain the implications of the feature’ homogeneous products in a perfectly competitive market.(Solved)
Explain the implications of the feature’ homogeneous products in a perfectly competitive market.
Date posted: May 12, 2018. Answers (1)
- Distinguish between explicit costs and implicit costs and give examples. (Solved)
Distinguish between explicit costs and implicit costs and give examples.
Date posted: May 12, 2018. Answers (1)
- Explain the importance of personal hygiene(Solved)
Explain the importance of personal hygiene.
Date posted: May 12, 2018. Answers (1)
- Use real time illustrations to discuss how various demographic dispositions impact on economic performance of a least developed country.(Solved)
Use real time illustrations to discuss how various demographic dispositions impact on economic performance of a least developed country.
Date posted: May 12, 2018. Answers (1)
- Explain the superiority of Optimum Population Theory over The Malthusian Population Theory(Solved)
Explain the superiority of Optimum Population Theory over The Malthusian Population Theory.
Date posted: May 12, 2018. Answers (1)
- Discuss FIVE causes of poverty in Less developing countries.(Solved)
Discuss FIVE causes of poverty in Less developing countries.
Date posted: May 12, 2018. Answers (1)
- Describe the Neo-Marxist theory of economic development(Solved)
Describe the Neo-Marxist theory of economic development
Date posted: May 12, 2018. Answers (1)
- Collective bargaining offers many advantages to employers, workers and society at large. Explain the importance of collective bargaining.(Solved)
Collective bargaining offers many advantages to employers, workers and society at large. Explain the importance of collective bargaining.
Date posted: May 11, 2018. Answers (1)
- Discuss FIVE roles of industrial sector in economic development of a nation(Solved)
Discuss FIVE roles of industrial sector in economic development of a nation.
Date posted: May 11, 2018. Answers (1)
- Briefly explain SIX characteristics of money(Solved)
Briefly explain SIX characteristics of money.
Date posted: May 11, 2018. Answers (1)
- Explain the different preferences for risks by individual farmer(Solved)
Explain the different preferences for risks by individual farmer.
Date posted: May 11, 2018. Answers (1)
- Briefly define the term ' trade union' and explain why do workers join a trade union?(Solved)
Briefly define the term ' trade union' and explain why do workers join a trade union?
Date posted: May 10, 2018. Answers (1)
- Explain FOUR factors affecting the size of a National Income.(Solved)
Explain FOUR factors affecting the size of a National Income.
Date posted: May 10, 2018. Answers (1)
- Explain five factors which determine the productivity of labour(Solved)
Explain five factors which determine the productivity of labour.
Date posted: May 9, 2018. Answers (1)