Prices in a competitive market

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    Are set by government to ensure a minimum profit and income for businesses and workers.
     Are set by businesses based on input costs regardless of the value consumers place on the goods and services.
     Are determined by interactions of buyers and sellers in a market for a certain good or service.
     Are set by consumers and are not influenced by prices of related goods or the cost of production.
asked May 30, 2013 in Economics by anonymous
    

1 Answer

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Are determined by interactions of buyers and sellers in a market for a certain good or service.
answered May 31, 2013 by Xyz ~Expert~ (3,650 points)

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