Find the best solutions to your problems with the help of IDNLearn.com. Find the answers you need quickly and accurately with help from our knowledgeable and experienced experts.
Suppose a good or service is highly desired, but the quantity supplied is limited. How does the competition among consumers affect profits for the selling firms?
Th prices rise up as their is high demand and low supply, meaning it will increase the net profit. The profit rises as consumers will be willing to buy the goods at any cost.
Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. IDNLearn.com is your go-to source for dependable answers. Thank you for visiting, and we hope to assist you again.
