What information does the equilibrium price of bread give

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What information does the equilibrium price of bread give (other than how much consumers must pay to buy bread)? Competitive prices provide an accurate measure of the scarcity of a good or service. The quantity of bread produced. The willingness of firms to produce bread. Prices reflect the anonymous interaction of sometimes millions of people, directing how to allocate scarce resources. The willingness of consumers to buy bread.

Reference no: EM133629739

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