Under competitive conditions, why can market price not be higher or lower than the price established by

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Under competitive conditions, why can market price not be higher or lower than the price established by the free market forces of demand and supply?

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Basic Economics

ISBN: 978-1111826642

16th edition

Authors: Frank V. Mastrianna

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Question Posted: Mar 08, 2018 09:52 AM

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Under competitive conditions, why can market price not be higher or lower than the price established by

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A price either above or below the equilibrium price would result in an imbala...View the full answer

Basic Economics

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