How can a change in demand for a product affect the products price?

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asked Apr 7, 2023 115k views

2 Answers

TheLukeMcCarthy · Answer 1 · 2023-04-08T03:09:46+0000

The rule of demand and supply means that any product in high demand will increase in price as more of the product is needed but not enough of the product is made to reach the demand. This makes it possible for suppliers to increase the price.

Othmane Nemli · Answer 2 · 2023-04-12T18:56:55+0000

Answer:

if the demand is higher the price may increase and if there is low demand it would likely decrease

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How can a change in demand for a product affect the products price?

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