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Dafna11 [192]
3 years ago
11

16) When supply is fixed or the product is unique, then price is A) supply determined. B) demand determined. C) government deter

mined. D) indeterminate.
Business
1 answer:
Rudiy273 years ago
3 0

Answer: B) demand determined.

Explanation:

If the supply of a good is fixed or the product is of a unique kind, the price of the good will be determined by the amount of demand for it.

Normally supply can change based on the quantity demanded which will impact prices but if the supply is definite, this means that the supply curve is inelastic and the only curve that can affect price therefore is the demand curve.

If more people demand the good, it will increase in price and if less people demand it, it will fall in price.

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When a furniture manufacturer buys the lumber and other raw materials, machines and equipment, manufacturing supplies, and offic
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Procurement

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After a lender notifies the trustee that a borrower is in default, the trustee must take all the following actions EXCEPT
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