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When a price increase has little or no effect on the demand for a product, it is inelastic.
the product supply increase. The quntity deman decrease
The raise in the price of a product causes an increase in competition.
Inflation is the economic term that describes an increase in product price without the increase of money's worth.
You have an inelastic product.
When a price increase has little or no effect on the demand for a product, it is inelastic.
the product supply increase. The quntity deman decrease
The raise in the price of a product causes an increase in competition.
Inflation is the economic term that describes an increase in product price without the increase of money's worth.
Changes in the market price is determined by demand of a product. If consumers demand the product, then the price will increase.
The cost is generally passed onto the customer in the form of a product price increase.
You have an inelastic product.
Increase
If a product is in high demand, the chances are good that the seller of that product is going to increase the price. It is a basic principle of economics.
increase in demand and decrease in supply.
Supply increases.
If there is an increase in demand, there will be increase in the price of the product if the supply remains the same. But if the manufacturer or supplier is able to supply increased quantity of product there will be no major effect.