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Demand Curve To The Right

oboloo Glossary

Demand Curve To The Right

A demand curve to the right is a concept used in microeconomics to describe the relationship between the price of a good or service and the quantity of that good or service demanded by consumers. It’s based on the idea that as the price of a product decreases, the amount of people willing to purchase it increases. Simply put, when the price goes down, more products will be sold. In order for businesses to remain competitive and increase their profits, they need to be aware that as prices decrease, demand increases – this is known as a demand curve to the right. By understanding and utilizing this concept, businesses can effectively manage pricing and make sure they stay competitive in the market.

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