In microeconomics, it applies to price and output determination for a market with perfect competition, which includes the condition of no buyers or sellers large enough to have price-setting power.
Ring ekonomi mikro, puniki prasida dados jalaran rikala nentuang pangarga miwah output ring pasar antuk persaingan sané paripurna, sané ngingkupin kahanan rikala nénten wénten sané matumbasan utawi dagang sané maduwé modal ageng sané prasida netepang harga.