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Brrunno [24]
3 years ago
5

Which of the following best describes equilibrium?

Business
1 answer:
QveST [7]3 years ago
3 0

Answer:

C. A situation where no economic agent would benefit by changing his or her behavior

Explanation:

An economic equilibrium is when the agents are optimizing their decisions and opposing market forces are equal. This point allows the economic agents to maximize their utility and any change from this point will cause all agents to move away from potential maximum benefits.

In a natural equilibrium there is usually no government intervention so option A is false. Option B gives only one agent potential benefits and as such there is no equilibrium. Option D is conditional and may or may not happen as when the agents find missing information they would optimize again and move to an equilibrium.

Hope that helps.

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3 years ago
Jeff purchased​ $550 of goods and received credit terms of​ 5/15, n/30. How much did he pay if payment was made during the disco
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If the quantity supplied responds only slightly to changes in price, thenA. supply is said to be elastic.B. even a large decreas
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