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What determines price of service supply , demand, utility, benefit​

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ANSWER:

The demand for a GOOD or service depends on two factors: (1) its utility to SATISFY a want or need, and (2) the consumer's ability to pay for the good or service. ... When demand is higher than supply, prices increase to reflect scarcity. Conversely, when demand is lower than supply, prices FALL due to the surplus.



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