In pure competition,price is determined where the industry:

Name: In pure competition,price is determined where the industry:
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In pure competition, there are many producers and consumers and the goods offered are homogenous. Therefore, the industry price is determined by the intersection of the demand and supply curves, where the quantity demanded equals the quantity supplied. This is the point where the market clears and there is no excess supply or demand.

In Pure Competition,price Is Determined Where the Industry