asked 154k views
0 votes
Which of the following situations will likely result in the highest price for a good?

-high demand and high supply
-low demand and high supply
-low supply and low demand
-low supply and high demand

1 Answer

3 votes

Answer:

low supply and high demand

Step-by-step explanation:

The situation that will most likely result in the highest price for a good is 'low supply and high demand. When there is a low supply of a product that is highly desired by consumers, companies will take this as an opportunity to raise said products price if they have it in stock. A good example of this is the shortage in supply of toilet paper that occurred at the start of the 2020 pandemic. Since there was such a high demand for toilet paper and a rather low supply of it, businesses began to increase their prices when they had it in stock.

answered
User Emmanuel Dupuy
by
8.6k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories