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Q:
A) an increase in competition | B) an increase in demand |
C) a decrease in competition | D) a decrease in supply |
Answer: A) an increase in competition
Explanation:
Explanation:
The raise in the price of a product may be due to increase in cost of production, increase in the demand of the product and increase in the margin.
When the price of a product increases its demand may fall as per the Law of Demand and an increase in the competition.