if there is an increase in demand for a product, and that is the only thing that changes, what will that do…
if there is an increase in demand for a product, and that is the only thing that changes, what will that do to the price of the product? a the price will fall. b the price will rise. c the supply will rise. d the price will not change.
Answer
Brief Explanations:
According to the law of supply and demand, when demand for a product increases with no change in supply, there is more competition among buyers. Sellers can charge higher prices, so the price rises.
Answer:
B. The price will rise.