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  • Demand, Supply, and Market Equilibrium
  • In a market, prices are determined by
Multiple choice

In a market, prices are determined by

  1. board of directors

  2. government bureaucrats

  3. legal advisors of the company

  4. seasonal demand

  5. supply and demand

Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Price is calculated on the basis of quantity of goods demanded and the quantity of goods supplied. This is the correct answer.

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