Microeconomics

In A Market Based Economy What Is The Role Of Prices Transmitters/Signals? How Do Prices Guide Economic Decisions

Question

In a market based economy what is the role of prices transmitters/signals? How do prices guide economic decisions

and allocated scarce resources? Explain the role prices play in balancing supply and demand for goods and services. Provide commentary and graphical analysis. Does the concept of opportunity cost play a role in the determination of prices?

Microeconomics

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