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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

How does a change in price affect the demand and supply of a product?

Summary Introduction

To determine: The ways change in price affect the demand and supply of a product.

Introduction: Supply and demand are financial are the monetary powers of the free market that organize what suppliers will create and what buyers are eager and ready to buy.

Explanation

The ways change in price affect the demand and supply of a product are as follows:

Bringing down the cost of a product can enlarge demand, while enlarging the cost may control demand...

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