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Paraphin [41]
3 years ago
7

in microeconomics ,price helps determine both quantity supplied and quantity demanded. which other factors help determine each o

ther?
Mathematics
1 answer:
Paraphin [41]3 years ago
5 0
There are different factors that affect quantity supplied and quantity demanded. <span>Quantity supplied is known by production cost, while in quantity demand it is determined by desire or need for the product.
</span>
For quantity demanded the other factors are:income of buyers, quality of the product, season, number of consumers, tastes and preferences, and price of related products.

For quantity supplied, the other factors are: cost of production, availability of raw materials, number of sellers, technology, and taxes and subsidies.
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