BUS 210 Week 1 DQ - the product and the amount that can be...

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BUS 210 Week 1 DQ #1 Your friend has asked you why the price of bananas is higher during certain times of the year. Using what you have learned about the laws of supply and demand, explain to your friend how the market affects price. I would explain to my friend that because bananas are less abundant during certain times of the year that the prices are higher because of the demand for
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Unformatted text preview: the product and the amount that can be supplied. According to the laws of supply and demand since only a small amount of the product is available the price goes up. You also have to consider gas prices, the higher the gas price the more it will cost for a supplier to receive the product, in turn the supplier will have to sell the product at a higher rate to earn a profit....
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