A market-determined price
A)is determined by the manager of a firm.
B)is determined by the intersection of demand and supply curves.
C)is an endogenous variable
D)both a and b
E)both b and c

Question

Quizplus · Accepted Answer

Market-determined prices are determined by the intersection of demand and supply curves (B) and are considered endogenous variables (C), meaning they are influenced by factors within the economic model.

A Market-Determined Price