sarishna176 sarishna176

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Social Studies

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how is the price of the good determined in the market? Write with example

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ajaysolanki ajaysolanki

Today at 9:50 AM

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The market price of an asset or service is determined by the forces of supply and demand. The price at which quantity supplied equals quantity demanded is the market price. The market price is used to calculate consumer and economic surplus. ... Economic surplus is the sum total of consumer surplus and producer surplus.

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