A few days ago
whats the relathionship between quantity supplied and demanded is price either increases or decrases?
whats the relathionship between quantity supplied and demanded is price either increases or decrases?
Top 3 Answers
A few days ago
Favorite Answer
An increase in demand causes price to increase. An increase in supply causes price to decrease.
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A few days ago
I think you are referring to “supply and demand or demand curve”. For example, if an airline lowers their price, the demand for tickets will increase. As the price goes up, less people will buy tickets. At some point, the price is more profitable to the airline, but too expensive for the buyers. The airline has to balance this “demand curve” to increase sales but maintain profitability.
This is part of pricing strategies and gets a little more technical, but maybe this answers your question????
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A few days ago
Well I’m going to take a guess. If a product is in demand the price would increase. If a product is oversupplied in relation to it’s demand the price would decrease. Does that help?
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