According to adam smith what happens when the demand for a product decreases

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asked Jul 18, 2018 194k views

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Aupr · Answer 1 · 2018-07-22T11:23:43+0000

in a competitive market when the demand decreases it is as a result of an increase in price, hence for the demand to increase , there is need to lower the prices and get a suitable price which will maintain an equilibrum

According to adam smith what happens when the demand for a product decreases

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