How Is the Market Clearing Price Established in a Perfectly

question 93

Essay

How is the market clearing price established in a perfectly competitive industry?

---

Definitions:

Annuity

A financial product that pays out a fixed stream of payments to an individual, typically used as an income stream for retirees.

Pregnancy Discrimination Act

A United States federal law that prohibits discrimination on the basis of pregnancy, childbirth, or related medical conditions in any aspect of employment.

Employee Retirement Income Security Act

A federal law that sets minimum standards for retirement and health benefit plans in private industry to protect individuals in these plans.

Economic Recovery Tax Act

A law enacted in the United States in 1981, aimed at lowering income taxes to spur economic growth.