Determinants of demand affect the price
For a particular product how do the determinants of demand affect the price?
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As demand for a goods increases the price also increases accordingly. So any determinant of demand which has positive or negative effect on demand will have the same effect on the price.
Elasticity of Demand: The law of demand elucidates that demand will change due to a change in the price of the commodity. However it does not elucidate the rate at w
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