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If market demand and firm's demands are equal in a situation it means that a) there is only one producer b)there is only one consumer C )both a and b d) neither a nor b Please explain the answer too?
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If market demand and firm's demands are equal in a situation it means ...
Answer:

Option d) neither a nor b is the correct answer.

Explanation:

Market demand and firm's demand are two different concepts. Market demand refers to the total amount of a product or service that all consumers in a market are willing and able to buy at a given price. Firm's demand, on the other hand, refers to the amount of a product or service that a single firm is willing and able to buy at a given price.

If market demand and firm's demand are equal, it means that the firm is operating at the point where it is producing the optimal amount of output given the market conditions. However, this does not mean that there is only one producer or one consumer. In fact, there could be many producers and consumers in the market.

Therefore, neither option a) nor option b) is correct. Option d) neither a nor b) is the correct answer.
Community Answer
If market demand and firm's demands are equal in a situation it means ...
C. both a and b
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If market demand and firm's demands are equal in a situation it means that a) there is only one producer b)there is only one consumer C )both a and b d) neither a nor b Please explain the answer too?
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If market demand and firm's demands are equal in a situation it means that a) there is only one producer b)there is only one consumer C )both a and b d) neither a nor b Please explain the answer too? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about If market demand and firm's demands are equal in a situation it means that a) there is only one producer b)there is only one consumer C )both a and b d) neither a nor b Please explain the answer too? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If market demand and firm's demands are equal in a situation it means that a) there is only one producer b)there is only one consumer C )both a and b d) neither a nor b Please explain the answer too?.
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