determine the market equilibrium under perfect competition with examples and diagrams
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Market Equilibrium in perfect competition- It is a point where demands in the market are equivalent to the supply.
Most of the companies determine the pricing at this stage. In a longer run, demand and supply impacts the equilibrium in the scenario of perfect competition. Graphically, this point is represented where the demand and supply intersect each other.
This point is called a point of equilibrium and is the point where pricing is determined.
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