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zalisa [80]
3 years ago
12

At equilibrium in a market for a product, the total revenues received by sellers equal the

Business
1 answer:
FrozenT [24]3 years ago
6 0

Equilibrium is a situation where the seller’s Revenue and buyers cost are equal or intersect each other. In other words, the point of Equilibrium can be understood a level at which the total revenues received by sellers equal the total amount spent by buyers on the product.



At equilibrium in a market for a product, the total revenues received by sellers equal the: <u>Total amount spent by buyers on the product</u>




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