Adam smith suggests that increased competition will allow prices to be kept ______________________.

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Dishan2092idn Dishan2092idn

06-07-2022
Business

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Adam smith suggests that increased competition will allow prices to be kept ______________________.

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Okpalawalter8idn Okpalawalter8idn · Answer 1 · 2022-07-13T11:10:13-04:00

Adam Smith suggests that increased competition will allow prices to be kept at equilibrium or natural price. This is further explained below.

What is equilibrium price?

Generally, When there is a balance between the supply of products and the demand for those items, an equilibrium price is reached. Whenever a major index goes through a phase of consolidation or sideways motion

In conclusion, Adam Smith argues that market forces will stabilize prices at a natural level of competition is enhanced.

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What is equilibrium price?

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