Economy, asked by PrincessPanchal07, 4 months ago

7. How equilibrium is attained under Perfect Competition?
it is very urgent

Answers

Answered by PD626471

70

Equilibrium in perfect competition is the point where market demands will be equal to market supply. A firm's price will be determined at this point. In the short run, equilibrium will be affected by demand. In the long run, both demand and supply of a product will affect the equilibrium in perfect competition.

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