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Market Price

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Issue:

Business

 

Written by:

Connie G

 

Date added:

September 27, 2013

 

Level:

University

 

Grade:

A

 

No of pages / words:

5 / 1143

 

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10230 times

 

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Essay content:

Prices usually play an important role in these markets. EQUILIBRIUM PRICE AND OUTPUT:- In the absence of government intervention, price is determined by demand and supply. The equilibrium price is where demand and supply are equal. At this point there are no forces causing the price to change. The quantity which consumers want to buy will equal the quantity which producers want to sell at the current price...
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The equilibrium price is where demand and supply are equal. At this point there are no forces causing the price to change. The quantity which consumers want to buy will equal the quantity which producers want to sell at the current price. At prices higher than the equilibrium price the quantity supplied will be greater than the quantity demanded and the excess supply would oblige sellers to lower their prices in order to dispose of their output...
displayed 300 characters

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