Demand And Supply?Quantitative Finance Level 2
In a market economy, the price of a product is determined solely by its demand and supply.
When a new product is launched in a market economy, it has high demand and supply. As time passes, it becomes outdated, and its demand decreases. As the company introduces newer products, its supply decreases too.
What effect does a decrease in both the demand and the supply have on the price of the product?