In microeconomics, price helps determine both quantity supplied and quantity demanded.
Which other factors can impact each by causing a shift to occur?
Quantity supplied is determined by production costs, and quantity demanded is determined by desire for the product.
Quantity supplied is determined by production costs, and quantity demanded is determined by producer behavior.
Quantity supplied is determined by consumer behavior, and quantity demanded is determined by aggregate demand.
Quantity supplied is determined by producer behavior, and quantity demanded is determined by desire for the product.
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In micro economics, the of a product determine many things. Sometimes the price of a very cheap thing turns out to be very high, and as well as some high priced materials, turnout to be very low.
Sometimes the reason for increased demand of any product, leads to increase in cost of any product.
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