Pizz8yjar6edler Pizz8yjar6edler

07-10-2016
Business

Answered

How does a firm generally respond to higher demand for its goods?

a.it rations goods.

b.it raises prices.

c.it cuts prices.

d.there is no set response to this situation.

Verified Answer :

Anonymous Anonymous

07-10-2016

I think it would be A

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Queenlori Queenlori

28-10-2019

Answer:

B. raise prices.

Explanation:

When the demand increase, while the firm is not able to increase the production, they raise the prices, because there will be buyers willing to pay more. That is the classical equilibrium of the market, offer - demand: increases in demand push the prices upward, increasing in offer pushes the prices downward.

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