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Discussion :: Engineering Economics

  1. “Under conditions of perfect competition, the price at which any given product will be supplied and purchased is the price that will result in the supply and the demand being equal.” This statement is known as the:

    2. A.

     Law of diminishing return
    B.

     Law of supply
    C.

     Law of demand
    D.

     Law of supply and demand

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    Workspace

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    Answer : Option D

    Explanation :

    Explanation Not Provided

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