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When determining how to price the goods that you will sell, if you notice that a lot of consumers want your product, you can ty...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?
a. cut the price in half
b. raise the price a reasonable amount
c. quadruple the price beyond the going rate
d. offer different prices for different buyers
a. cut the price in half
b. raise the price a reasonable amount
c. quadruple the price beyond the going rate
d. offer different prices for different buyers
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Answered by
GPT-4o mini
The most appropriate option is **b. raise the price a reasonable amount**.
When there is high demand for a product, increasing the price can help maximize profit while still meeting the demand, as consumers may be willing to pay more for a desirable item. However, it's important to ensure that the price increase is reasonable to avoid losing customers who might turn to alternatives.
When there is high demand for a product, increasing the price can help maximize profit while still meeting the demand, as consumers may be willing to pay more for a desirable item. However, it's important to ensure that the price increase is reasonable to avoid losing customers who might turn to alternatives.
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