Imagine that you want to buy a limited edition book for $100, the publisher decides that consumers won't buy the book at a price higher than $100, so only 500 books are printed. If the publisher turns out to be wrong, and consumers demand 10,000 books, the price will rise (as demand increases, so does price). This rise in price should then prompt the publisher to print more books because the higher the price, the higher the quantity supplied. Find another product that you use everyday and for which the market would react the same way
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Business, 22.06.2019 09:40, cerna
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Imagine that you want to buy a limited edition book for $100, the publisher decides that consumers w...
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