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18 May, 02:32

How does the market determine the price and the quantities supplied and demanded?

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  1. 18 May, 02:35
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    In a market economy, the price and the quantities of the goods are indirectly determined by the demand and supply: there is a competition among the suppliers, which is however constrained by their production costs, and the consumers choose the best options: the interplay of these two factors causes the prices to meet "in the middle", creating an equilibrium.
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