What determines market prices assuming a competitive market, Ask an Expert

Economics

We know that price and quantity are directly related in supply, and inversely related in demand. But, what explains a downward sloping demand curve and an upward sloping supply curve?

What determines market prices, assuming a competitive market and there are no artificial restrictions in the market?

How does the market arrive at an equilibrium?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9448991

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