When a Market Is in Equilibrium

question 71

Multiple Choice

When a market is in equilibrium:

• A)a person could do better if he or she did something different.
• B)people have exploited all opportunities to make themselves better off.
• C)the government has wrongly interfered in this market.
• D)markets are not working efficiently.

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Definitions:

Gallon Conversion

The process of converting gallons, a unit of liquid volume, to other units of measurement like liters or cubic meters.

Finishing Touches

The final details or actions that complete and perfect a project or product.

Bicycles Per Hour

A measurement rate indicating the number of bicycles being produced, assembled, or sold within an hour.

Carpet Installation

The process of laying the carpet and securing it on the floor of a building or room.