Business, 19.05.2021 20:40 haldridge19
Why do prices increase when demand for a product is high?
• Companies know they can make more money by selling fewer products at higher prices
• Companies know that people will be willing to spend more to get an in-demand product
• Companies take advantage of the demand to make people spend more money on excess products. • Companies know they can stop production and still make money on sales.
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Why do prices increase when demand for a product is high?
• Companies know they can make more money...
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