Question

According to the law of supply and demand, if the demand for a product suddenly goes up faster than the supply, which of the following will be the result?

Question 11 options:

The price of the product will go up.


The price of the product will go down.


Production of the product will decrease.


The price will reflect the cost of production.

Answer 1

It is A, I believe .

Step-by-step explanation:

More people want the product so business needs to boom. You need more money to produce the product, and to obtain more money for the product, you need to raise the price of the product. Hope this helps you!