Question

4. How about the opposite: I have 1 customer and I am trying to sell 100 cars. What happens to the price?
5. What is the equilibrium price?
. If I am a car dealer and I have 100 customers but only 1 car left to sell, what happens to the price of that car?

Answer 1

Answer:

4. The price goes down.

5. The price goes up.

Explanation:

Supply and demand.

4. Not many people want these cars, so the value is now lower which means I should make the price lower. (low demand, low price)

5. Many people want these cars, so the value is now higher which means I should make the price higher. (high demand, high price)