FOUNDATIONS OF BUSINESS
FOUNDATIONS OF BUSINESS
6th Edition
ISBN: 9780357685594
Author: Pride
Publisher: CENGAGE L
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Chapter 1.6D, Problem 4CC
Summary Introduction

To determine: How equilibrium or market price of a product is determine.

Introduction: Market equilibrium is a market status where the supply in the market is proportional to the demand in the market. The price of equilibrium is the cost of an item or service when its supply is comparable to the demand for it in the market.

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