Get expert advice and insights on any topic with IDNLearn.com. Discover trustworthy solutions to your questions quickly and accurately with help from our dedicated community of experts.
Sagot :
Final answer:
In the long run, price is determined by the market through the interaction of supply and demand curves.
Explanation:
Price in the long run is determined by the market, particularly through the interaction of supply and demand. Suppliers decide how much to produce at the prevailing market price, which is the point where supply and demand curves intersect. This intersection establishes the equilibrium price in a perfectly competitive market.
Learn more about market equilibrium, supply and demand interaction here:
https://brainly.com/question/30103367
We are delighted to have you as part of our community. Keep asking, answering, and sharing your insights. Together, we can create a valuable knowledge resource. IDNLearn.com is your go-to source for accurate answers. Thanks for stopping by, and come back for more helpful information.