110 pounds of oranges and the quantity demanded will be 80 pounds of oranges will be the quantity demanded and quantity supplied at this price.
What is price?
- A price is the amount of fee or repayment given via way of means of one celebration to some other in go back for items or services.
- In a few situations, the price of manufacturing has a distinct name.
- If the product is a "good" with inside the industrial exchange, the price for this product will in all likelihood be referred to as its "charge".
- Price is the quantity of cash that needs to be paid to gather a given product.
- Insofar as the quantity humans are organized to pay for a product represents its value, charge is likewise a degree of value.
- Price is the quantity that purchasers could be inclined to pay for a product.
- Marketers should hyperlink the charge to the product's actual and perceived value, even as additionally thinking about deliver costs, seasonal discounts, competitors' prices, and retail markup.
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