jenivajimenez2or8xzi jenivajimenez2or8xzi
  • 25-10-2017
  • History
contestada

In microeconomics, price helps determine both quantity supplied and quantity demanded. Which other factors also help determine each?

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alexobey4 alexobey4
  • 27-10-2017
 Quantity supplied is determined by production costs, and quantity demanded is determined by desire for the product.
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selerizzuti
selerizzuti selerizzuti
  • 28-01-2019

Hi there!

Quantity supplied is determined by production costs, and quantity demanded is determined by the desire for the product.

In microeconomics, not only the price is one factor that helps determine both quantity supplied and quantity demanded, but also the factors listed above, like production costs (quantity supplied) and desire for the product (quantity demanded).

Hope this helps!

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