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Question 7 of 10
How do supply and demand work together to influence the price of a product?
OA. Sellers supply a certain amount of a product based on how much
demand they believe it will have at a particular price.
B. Buyers create high demand for products with a large supply, which
causes the products' prices to drop.
C. Sellers create large supplies of products to keep prices low, while
consumers lower demand to increase prices.
D. Buyers set the supply of a good by purchasing it at a specific price,
which creates demand among sellers to decrease the price.
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Answer :

GinnyAnswer

Final answer:

Supply and demand interact to determine product prices through economic equilibrium.


Explanation:

Supply and demand work together in influencing the price of a product through their interaction in the market. Supply refers to the amount of a product available at different prices, while demand signifies the quantity of a product that consumers are willing to buy at various prices. When supply and demand are balanced, an economic equilibrium is achieved, determining the price of the product.


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