Market price

Look up market price in Wiktionary, the free dictionary.

In economics, market price is the economic price for which a good or service is offered in the marketplace. It is of interest mainly in the study of microeconomics. Market value and market price are equal only under conditions of market efficiency, equilibrium, and rational expectations.

On restaurant menus, "market price" (often abbreviated to m.p. or mp) is written instead of a price to mean "price of dish depends on market price of ingredients, and price is available upon request", and is particularly used for seafood, notably lobsters and oysters.

References

Microeconomics

Major topics	Aggregation Bilateral monopoly Budget Consumer Convexity and non-convexity Cost Cost–benefit analysis Distribution Deadweight loss Duopoly Income–consumption curve Equilibria Economies of scale Economies of scope Elasticity Exchange Expected utility Externality Firms General equilibrium Household Information Indifference curve Intertemporal choice Marginal cost Market failure Market structure Monopoly Monopsony Oligopoly Preferences Production Profit Public goods Returns to scale Risk aversion Scarcity Shortage Social choice Sunk costs Supply & demand Surplus Uncertainty Utility Welfare

Subfields	Behavioral Business Computational Statistical decision theory Econometrics Experimental Game theory Industrial organization Labor economics Mathematical economics Microfoundations of macroeconomics Managerial Operations research Optimization

Market price

See also

References