In a competitive market, firms can dictate what the equilibrium price of a good or a service will be False.
It should be mentioned that the equilibrium price is determined by the interaction between demand and supply. Neither consumers nor corporations can determine the equilibrium price.
No company can sell anything at any price unless it can find a willing buyer, and no consumer can purchase anything at any price unless a willing seller can be found. lower than the equilibrium price, and the amount required exceeds the quantity provided In a competitive market, businesses can set the equilibrium price of an item or service.
Assist in reducing the scarcity of parking places in those regions and at those times Buyers and sellers may be forced to compete on price. The supply-demand interplay.
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