Business Studies, asked by Selfish4002, 10 months ago

Output of controlling prices is given to which prices

Answers

Answered by Anonymous

2

Explanation:

Let us begin on the elementary level and say that prices are determined by supply and demand. If the relative demand for a product increases, consumers will be willing to pay more for it. Their competitive bids will both oblige them individually to pay more for it and enable producers to get more for it.

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