Economy, asked by chumpamei, 5 months ago

What is market equilibrium?Explain with the help of a diagram

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Answered by Anonymous

1

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

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