“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_________________?

Civil Engineering Mcqs

“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_________________?

(A)  Law of diminishing return

(B)  Law of supply

(C)  Law of demand

(D)  Law of supply and demand

Submitted By :Ali Uppal

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