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SUPPLY AND DEMAND
The Supply and Demand model illustrates how price is finally determined. By overlaying the Supply and Demand curves, the two cross at a point mutually beneficial for both parties. That point marks the equilibrium market price, where the output of goods, services and profits are maximized in the most efficient manner. If this value was always known, there might theoretically be no waste of resources, ceteris paribus.
Source: dmoore201b.umwblogs.org (built 177 days ago)
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