Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

In free markets the price of a product depends on how much consumers are willing and able to buy and how much the producers are

In free markets the price of a product depends on how much consumers are willing and able to buy and how much the producers are willing and able to sell. What does the market price depend on in a free market?
Multiple choice question.
The government negotiating the price with consumers and producers
The price imposed by producers
Supply and demand
The price imposed by consumers

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics A Problem-Solving Approach

Authors: Luke M. Froeb, Brain T. Mccann

2nd Edition

B00BTM8FK0

More Books

Students also viewed these Economics questions

Question

Discuss all branches of science

Answered: 1 week ago