eythantucker21 eythantucker21
  • 16-04-2021
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1. Define "equilibrium price" and name the mechanism for setting this price in a free-
market system.

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dilara69svgsvsv dilara69svgsvsv
  • 16-04-2021
Economic theory suggests that, in a free market there will be a single price which brings demand and supply into balance, called equilibrium price. Both parties require the scarce resource that the other has and hence there is a considerable incentive to engage in an exchange.
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