Question

Which factor would most likely cause the demand for a company‘s product to decrease?

Answer 1

Answer: A competitor introduces similar product at a much lower power

Explanation:

Answer 2

An increase in price of this product would cause the demand for this product to fall or decrease.

According to the law of demand, the higher the price, the lower the quantity that would be demanded of a product by the users.

While a lower price would cause the consumption of the product to rise. The increase in price and demand has an inverse relationship.

As price goes up, the consumers would go for substitute products or go to competitors who would offer the product at lower costs.

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