The demand and supply model gives managers the opportunity to forecast changes in their production costs and the equilibrium price of their product.

Question

Quizplus · Accepted Answer

The demand and supply model allows managers to analyze the market forces of demand and supply to forecast changes in production costs and the equilibrium price of their product. This helps them make informed decisions about production, pricing strategies, and marketing efforts.

The Demand and Supply Model Gives Managers the Opportunity to Forecast