Business, Management and Accounting
4 years ago

Price changes drive demand: How businesses control consumer behavior.

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Effects of Price on Demand

Paper Summary

Price changes can affect demand for products and services. Companies use price reductions to sell old stock and introduce new products. Toll roads increase prices to reduce traffic. Ride share companies raise prices to balance demand and supply. Firms need to accurately predict how price changes will impact demand to achieve desired outcomes.

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