The best response would be to raise the price a reasonable amount. This approach allows you to increase profits while still meeting consumer demand, as long as the price increase is within a range that consumers are willing to pay.
When determining how to price the goods that you will sell, if you notice that a lot of consumers want your product, you can typically do what to the price while still meeting the demand and making a bigger profit?
(1 point)
Responses
cut the price in half
cut the price in half
raise the price a reasonable amount
raise the price a reasonable amount
quadruple the price beyond the going rate
quadruple the price beyond the going rate
offer different prices for different buyers
1 answer