Question

explain how the market price of a commodity determined​

Answer 1

As with equity securities, a commodity's price is determined primarily by the forces of supply and demand for the commodity in the market. ... If the weather in a certain region is going to affect the supply of a commodity, the price of that commodity will be affected directly. Examples include corn, soybeans, and wheat.

Answer 2

Answer:

In a perfectly competitive market price is determined exogenous ie by the interaction of demand and supply.but in the monopoly monopolist can maximize his or her profit.