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4 October, 10:42

Why do lower prices increase the demand for product or services

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  1. 4 October, 10:53
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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. 4 October, 10:58
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    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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