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18 May, 16:14

Why do lower prices increase the demand for product or services

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  1. 18 May, 16:53
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    This is because when things have a lower price, more people start buying that product. And when more people start buying that product, more of that product needs to be produced. It's basically cause and effect.
  2. 18 May, 18:04
    0
    The supply and demand model states that the price of a good will be the level where the quantity demanded equals the quantity supplied
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