AnnAnderson
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- Mar 25, 2022
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+ SUBMIT QUESTION
I would appreciate any help you can give me on this bit of homework
Supply and demand question: I need a formula I can use to always arrive at the right price of something
Let's say we have 2000 units of a product and there will never be any more.
We set the starting price at $1
Now what if 2001, 2002, 3-4-5-6-7-8 people want to buy one of those units and that demand keeps increasing
How would I WRITE THE FORMULA that would always calculate the right & fair price for one of those products, if and when more and more people want to own one of those original 2000 products?
With thanks,
Ann
I would appreciate any help you can give me on this bit of homework
Supply and demand question: I need a formula I can use to always arrive at the right price of something
Let's say we have 2000 units of a product and there will never be any more.
We set the starting price at $1
Now what if 2001, 2002, 3-4-5-6-7-8 people want to buy one of those units and that demand keeps increasing
How would I WRITE THE FORMULA that would always calculate the right & fair price for one of those products, if and when more and more people want to own one of those original 2000 products?
With thanks,
Ann