Attainment of equilibrium in a market is dependent on which basic component?

Firm

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Industry

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Price

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All of the above

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Solution

The correct option is A Price
Price determination is an essential component of the market. Hence, price is the key feature of the market. A market can expand or contract depending on the price of the product.

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Attainment of equilibrium in a market is dependent on which basic component?

The correct option is A PricePrice determination is an essential component of the market. Hence, price is the key feature of the market. A market can expand or contract depending on the price of the product.

The correct option is A Price
Price determination is an essential component of the market. Hence, price is the key feature of the market. A market can expand or contract depending on the price of the product.