Explore BrainMass
Share

Explore BrainMass

    Supply and demand

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Consider what your firm produces( tools ). What are some things that would change the demand for your product?
    What are some things that would affect changes in supply?
    How can quantity demanded be changed?
    What if the government raised the minimum wage. How would this policy effect your firm?

    © BrainMass Inc. brainmass.com October 10, 2019, 2:21 am ad1c9bdddf
    https://brainmass.com/economics/demand-supply/supply-and-demand-373853

    Solution Preview

    As a tool maker (suppose that you make house related tools such as nails and hammers),

    What are some things that would change the demand for your product?
    -cost of producing tools decreased => so price of tools drops

    What are some ...

    Solution Summary

    Supply and demand

    $2.19