What is the difference between a market equilibrium and a competitive market equilibrium?
What will be an ideal response?
A market equilibrium is a situation in which quantity demanded equals quantity supplied. A competitive market equilibrium is a market equilibrium with many buyers and sellers.
Economics
You might also like to view...
Per capita real GDP is the measure most frequently used to compare international living standards
Indicate whether the statement is true or false
Economics
Friedman argued that the Fed could use monetary policy to peg
a. nominal exchange rates. b. the level of real GDP. c. the rate of unemployment. d. None of the above is correct.
Economics