"When a person goes to the grocery store to buy food, there is no auctioneer calling out prices for bread, milk, and other items. Therefore, supply and demand cannot be operative." Is this statement true or false? Explain your answer.© BrainMass Inc. brainmass.com March 4, 2021, 6:23 pm ad1c9bdddf
This statement is false. As demand and supply is now dependent on the ...
This solution explains the concept of demand, price equilibrium and supply.