Economy, asked by priyadakhore08, 7 days ago

write in brief about the price determination under perfect competition???

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Answered by amangarnayak04

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Answer:In perfect competition, the price of a product is determined at a point at which the demand and supply curve intersect each other. This point is known as equilibrium point as well as the price is known as equilibrium price. In addition, at this point, the quantity demanded and supplied is called equilibrium quantity.

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