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24 March, 03:12

What does the interaction of the producer and the consumer establish?

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  1. 24 March, 05:10
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    They both establish a market price. It is the price that the consumers pay to willing producers. It is defined by the law of supply and demand. The higher the consumer demand the higher the price set by the producers.

    Usually, the market price is at the Equilibrium Market Price made with the interaction of the supply and demand.
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