If demand for the new product increases, the corporation takes option C, which involves lowering the price of the product.
The following paragraph provides more information regarding the law of demand.
The rule of demand states that the relationship between price and quantity demanded is inverse. If the price is increased, the demand for the goods should decrease. In addition, demand would increase if a given product's price dropped.
<h3>What Is the Law of Demand?</h3>
The rule of demand is among the most fundamental concepts in economics. It describes how market economies use the law of supply to allocate resources and determine the prices of the commodities and services we see in everyday interactions.
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