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Back to Library QID: #43808

Solution for QID #43808: When quantity demanded is equal to quantity supplied In a | StudyHelpMe

Subject: Economics
Status: Made to Order
When quantity demanded is equal to quantity supplied In a perfectly competitive economy, neither producers (Supply side) nor buyers (Demand side) have the sole power to determine prices. Thus prices are the determinants of the quantity supplied and quantity demanded. If the prices are set right, the quantity demanded (Bought) equals quantity supplied (produced) the market clears and equilibrium is achieved
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