how is the price of Fertilizer determined? we know that the price of a good is formed from the interaction of supply and demand. Producers will not sell a good below the cost of production. Demand changes the price due to competition; more demand drives the price up, less demand brings the price down. when you discuss how the price is determined: Taxes: is the good taxed? (e.g. cigarettes have a high tax) Costs of production: (resources, labor, etc.) Transportation Competition: is the good in high demand? Give a summary of the factors that go into the price of the good. (asked before but want better answer)

how is the price of Fertilizer determined? we know that the price of a good is formed from the interaction of supply and demand. Producers will not sell a good below the cost of production. Demand changes the price due to competition; more demand drives the price up, less demand brings the price down. when you discuss how the price is determined: Taxes: is the good taxed? (e.g. cigarettes have a high tax) Costs of production: (resources, labor, etc.) Transportation Competition: is the good in high demand? Give a summary of the factors that go into the price of the good. (asked before but want better answer)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter7: Nonlinear Optimization Models

Section: Chapter Questions

Problem 69P

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