In the long run,the price of a product is determined by the producer.

Name: In the long run,the price of a product is determined by the producer.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

The price of a product is ultimately determined by the laws of supply and demand, which is influenced by various factors such as consumer preferences, competition, and market conditions. While producers may have some control over the pricing of their products, they cannot fully determine it.

In the Long Run,the Price of a Product Is Determined