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Title: Which of the following statements correctly describes perfectly competitive market equilibrium? Post by: justxdrive on Dec 11, 2022 Which of the following statements correctly describes perfectly competitive market equilibrium?
▸ Multiple equilibriums are possible for a given set of demand and supply curves in a competitive market. ▸ Competitive markets converge to the price at which quantity supplied and quantity demanded are equal. ▸ There is always excess supply or excess demand when the competitive market is in equilibrium. ▸ Government intervention is necessary for the competitive market to reach equilibrium. Title: Which of the following statements correctly describes perfectly competitive market equilibrium? Post by: thomas1993 on Dec 11, 2022 Content hidden
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