Question

2. What is depicted by the study of price of a commodity, equilibrium of the firm
in economics?
(a) Micro
(b) Macro
(c) Micro & Macro (d) None​

Answer 1

Answer:

Explanation:

It is the main model of price determination used in economic theory. The price of a commodity is determined by the interaction of supply and demand in a market. The resulting price is referred to as the equilibrium price and represents an agreement between producers and consumers of the good.