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Author Question: Who has a higher bargaining power if the demand for the good being transacted is price-elastic? ... (Read 98 times)

deesands

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on: Jun 29, 2018
Who has a higher bargaining power if the demand for the good being transacted is price-elastic?
 
  What will be an ideal response?

Question 2

Coffee and sugar are complements. If the supply curve of coffee shifts leftward because of poor weather, then there will be
 
  A) an increase in the price of sugar.
  B) a decrease in the price of sugar.
  C) a leftward shift of the demand curve for coffee.
  D) a leftward shift of the supply curve for sugar.


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Cnarkel

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The buyer of the good has a higher bargaining power if his demand for the good is price- elastic. This is because the seller knows that if he charges a higher price for the good, the buyer will not purchase the good.

Answer to Question 2

B


deesands

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Reply #2 on: Jun 29, 2018
Thank you


Cnarkel

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Reply #3 on: Jun 29, 2018
No problemo


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