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In a perfectly competitive market, the price of a commodity is determined by
Economics
Determination of Equilibrium Price and Output Under Perfect Competition
Question
Updated
19 Aug 2026
In a perfectly competitive market, the price of a commodity is determined by ______.
A
Choose Your Answer
A
market (industry) demand and supply
B
an individual firm’s cost of production
C
an individual firms marginal revenue curve
D
all of the above
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