Economy, asked by priyamphukon230, 5 months ago

how the price is determined under perfectly competitive market in the long run.5marks

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Answered by Anonymous

13

factory competitive market or industry the equilibrium price is determined by the forces of demand and supply the figure indicates a normal shaped market demand and market supply curves the demand curve didi and supply curve as interest intersect each other and we get equilibrium price alongside equilibrium quantity

hope it helps you

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