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Why may a company intentionally limit supply when consumers want more of a product?
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- Identify a product or service for which you use on a regular basis. Discuss the product/service in terms of the Law of Demand from your perspective as the customer and consumer of the item. How does price impact your quantity demanded? In other words, what is your change in quantity demanded as a result in an increase or decrease in the product’s price? What are some shift factors of demand (anything other than price) that can adjust your overall demand for the product?Is there something unique or distinctive about the product or service that separates it from substitutes and competitors?Mandy has a lemonade stand. Her mother pays for all of her supplies, so she only cares about maximizing her revenue. An economist tells Mandy that at her current price, the demand for her lemonade is inelastic. To maximize revenue, Mandy should
- Do you agree that discounts represent the best policy for attracting customers?will the demand for online paid tv increase in the future ?You are a manager of an advertising company. The company is running short of funds, so you decide to increase revenue. should you increase or decrease the price of funning ad? explain