Economy, asked by khan6309679672, 29 days ago

explain the price determination in perfect competition market with help of diagram

Answers

Answered by Anonymous

3

Answer:

In the diagram, equilibrium price is determined at the point E where both demand and supply are equal. The upper limit of the price of a product is determined by the demand. The lower limit of the price is determined by the production cost. The point E can be regarded as the position of stable equilibrium.

hope it helps ☺

Attachments:

Previous Question

Next Question

Similar questions

Computer Science, 14 days ago

____________enable machine to see in the same way as humans do...

Math, 14 days ago

what led to the rise of new religious and philosophical ideas in india in the sixth century BC ?

Physics, 14 days ago

what is energy and how it work.?

Biology, 29 days ago

Name type of simple permanent tissue based on their functions.

Geography, 29 days ago

Explain how animals as biotic factors contribute to a thriving terrestrial ecosystem...

Math, 8 months ago

Sum of the digit of a two number is 7 . When the interchanged the digit ,iris found that the resulting new number is grater than the original number by 27 .Wath is the two digit nuber...

Geography, 8 months ago

mercantilism on Europe politics ...

English, 8 months ago

what poet observes in the cat ??? poem- milk for the cat...