markitect-main/examples/infospace-with-history/output/entities/competition-among-dealers.md

Competition Among Dealers

Definition

The rivalry between different sellers that obliges them to accept the market price but does not oblige them to accept less, helping to regulate prices toward natural levels.

Source Chapter

Book I, Chapter 7

Context

Identified as the force that "obliges them all to accept of this price, but does not oblige them to accept of less" when market price equals natural price.

Economic Domain

Exchange

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