If there is an increase in demand for a product, and that is the only thing that changes, what will that do to the price of the

Question

Lilit [14]

3 years ago

7

If there is an increase in demand for a product, and that is the only thing that changes, what will that do to the price of the

product?

Physics

2 answers:

Eva8 [605] · Answer 1 · 2021-12-21T23:37:06+03:00

Eva8 [605]3 years ago

5 0

I believe that the price will rise.
Hope this helps!

lozanna [386] · Answer 2 · 2021-12-22T01:10:47+03:00

Answer:

Price will also increase.

Explanation:

If there is an increase in demand for a product, keeping other factors constant, price of product will also rise. According price demand curve demand of a product and price of product in direct proportional relationship with each other. So as demand of any product increases, its price will also increase simultaneously.