When does competitive equilibrium occur does not exist for pure exchange economy?
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Heya...
Pure exchange market is called perfect competition market...
In this market the product of each seer is homogeneous and there is no any price control of any seller...
In this equilibrium occur when the demand gets equal to supply but it is not competitive...
Because prices are fixed by market forces demand and supply not as individuals...
Pure exchange market is called perfect competition market...
In this market the product of each seer is homogeneous and there is no any price control of any seller...
In this equilibrium occur when the demand gets equal to supply but it is not competitive...
Because prices are fixed by market forces demand and supply not as individuals...
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