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Which of the following is a correct definition of equilibrium price?


Question

Which of the following is a correct definition of equilibrium price?

Options

A)
A price which covers production cost
B)
A price which maximizes entreprenuer's profits
C)
A price at which the quantity demanded equals the quantity supplied
D)
A price at which a competitive firm is at equilibrium
E)
A price which stabilizes farmer's income

The correct answer is C.


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