When does the price of an item increase?
Added by Sofia A.
Step 1
Step 1: The price of an item increases when the demand for that item becomes larger than the supply of the item. Show more…
Show all steps
Your feedback will help us improve your experience
Haricharan Gupta and 93 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
Does a price floor attempt to make a price higher or lower?
Does a price ceiling increase or decrease the number of transactions in a market? Why? What about a price floor?
Does a price ceiling attempt to make a price higher or lower?
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
18,000,000+
Students on Numerade
Trusted by students at 8,000+ universities
Watch the video solution with this free unlock.
EMAIL
PASSWORD