Mayamayon
Answered

Get the answers you need at Westonci.ca, where our expert community is always ready to help with accurate information. Our platform offers a seamless experience for finding reliable answers from a network of experienced professionals. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.

If the price of a product is increase. What is the effect of change in price on the quantity demand & supply curve to illustrate the effect on the demand?

Sagot :

emanzaffar10

Answer:

Increased prices typically result in lower demand, and demand increases generally lead to increased supply. However, the supply of different products responds to demand differently, with some products' demand being less sensitive to prices than others.

Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.