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If the demand for a product increases by 30% and the supply remains constant, wh

Practice Questions

Q1
If the demand for a product increases by 30% and the supply remains constant, what will happen to the price?
  1. Decrease
  2. Increase
  3. Remain the same
  4. Cannot be determined

Questions & Step-by-Step Solutions

If the demand for a product increases by 30% and the supply remains constant, what will happen to the price?
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