Question
The market price is related to :
Answer: Option B
Answer: (b)
Marshall was the first economist who analyzed the importance of time in price determination. The market period is a very short period in which supply being fixed, price is determined by demand.
The time period is of few days or weeks in which the supply of a product can be amplified out of given stock to match the demand. This is possible for durable goods.
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Answer: (b)
Marshall was the first economist who analyzed the importance of time in price determination. The market period is a very short period in which supply being fixed, price is determined by demand.
The time period is of few days or weeks in which the supply of a product can be amplified out of given stock to match the demand. This is possible for durable goods.
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