Economy, asked by pulkitkhater141204, 2 months ago

How is equilibrium price of the commodity determined? Explain with the help of a demand and supply schedule (diagram)​

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Answered by tara9025
1

Answer:

If at a price both quantity demanded and quantity supplied of a commodity are equal that is called equilibrium price of the commodity. In this way, the price of a commodity is determined by the forces of demand and supply in the market.

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