Question

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

Answer 1

In a situation where there is high demand for your product, you can typically **raise the price a reasonable amount** while still meeting the demand and making a bigger profit.