Economy, asked by deepakkumar769, 1 year ago

what do you mean byequilibrium price?how is it determined?

Answers

Answered by Anonymous

3

Heya...

Equilibrium price is that price at which the aggregate demand is gets equal to aggregate supply...

Means that price which is common and sufficient to settle sale and purchase..

It is determined by market forces supply and demand...

Above the equilibrium price it is the situation of excess demand....

Below the equilibrium price it is the situation of excess supply...

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