In any given market,prices are determined by

Question

Quizplus · Accepted Answer

Prices in any given market are determined by the interaction of supply and demand. Buyers and sellers interact in the market, with buyers wanting to purchase goods and sellers offering goods for sale. The price at which buyers and sellers agree to exchange goods is determined by the intersection of the demand and supply curves. As the quantity demanded increases, the price tends to go up as well. Conversely, if the quantity supplied increases, the price tends to go down. Therefore, the correct answer is C.

In Any Given Market,prices Are Determined by