Why do you think it is important for managers to understand the mechanics of supply and demand

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Why do you think it is important for managers to understand the mechanics of supply and demand both in the- short run and in the long run? Give examples of companies whose business was either helped or hurt by changes in supply or demand in the markets in which they were competing.
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Managerial Economics

ISBN: 978-0133020267

7th edition

Authors: Paul Keat, Philip K Young, Steve Erfle

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