If Equilibrium Exists

question 114

Multiple Choice

If equilibrium exists:

• A)all individuals must have an equal amount of income.
• B)the price in that market will not fluctuate by more than 5%.
• C)there will be no remaining opportunities for individuals to make themselves better off.
• D)the number of buyers will equal the number of sellers.

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Definitions:

Total Row

A row in a spreadsheet or table that provides the sum, average, count, or other aggregate function of numerical data in selected columns.

Calculate Statistics

A mathematical process of gathering, summarizing, and analyzing data to infer patterns or trends.

Total Row

A row in a table or spreadsheet that calculates and displays the sum or other aggregate function of data in a column or columns.

Criterion

A principle or standard by which something may be judged or evaluated.