An electronics store sells specialty headphones for $100. They usually sell 5
pairs per day and purchase 150 pairs from their suppliers per month.
According to the law of supply, which outcome would be most likely if the
store could sell the headphones for $120 without losing customers?
A. The store would purchase 175 pairs per month,
B. The store would sell 3 pairs per day.
C. The store would sell 7 pairs per day,
D. The store would purchase 100 pairs per month.

Question

07-02-2021
Business

Answered

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An electronics store sells specialty headphones for $100. They usually sell 5
pairs per day and purchase 150 pairs from their suppliers per month.
According to the law of supply, which outcome would be most likely if the
store could sell the headphones for $120 without losing customers?
A. The store would purchase 175 pairs per month,
B. The store would sell 3 pairs per day.
C. The store would sell 7 pairs per day,
D. The store would purchase 100 pairs per month.

Sagot :

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miasimles miasimles · Answer 1 · 2021-02-07T14:37:22-05:00

miasimles miasimles

07-02-2021

D. The store would purchase 100 pairs per month

Answer Link

smecloudbird18 smecloudbird18 · Answer 2 · 2022-06-21T01:12:40-04:00

As the electronics store sells specialty headphones for $100. They usually sell 5 pairs per day and purchase 150 pairs from their suppliers per month. According to the law of supply, if the store could sell the headphones for $120 without losing customers then it would have to sell 7 pairs per day.

What is Law of supply?

Law of supply is a fundamental principal of Economic theories. It states that keeping all the other factors at constant, an increase in the the price of the product results in the increased supply of that product.

What is the Formula of Law of Supply?

Qs = x + yP

Where:

n Qs = the quantity supplied

n X = quantity

n P = price

n Y = variable

Hence option C is the correct answer.

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What is Law of supply?

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