The Competitive Equilibrium Model Gets Its Name from the

question 12

Multiple Choice

The competitive equilibrium model gets its name from the

• A)fact that the number of participants eliminated from the market equals the number of new participants.
• B)competition between buyers and sellers, each trying to drive the other out of business.
• C)competition between buyers and sellers, which establishes a market price equating the amounts people wish to buy and sell.
• D)steady-state nature of the model, in which prices can never change.
• E)way that the government is trying to balance the market's supply and demand forces.

---

Definitions:

Cumulative Frequency

A summary measure which counts the number of observations that fall below a particular value in a dataset.

Graphical Display

Visual representations of data, including charts, graphs, and plots, used to convey information clearly and efficiently.

Title

The name of a book, composition, or other artistic work.

Three Dimensions

Describes an object or environment that has width, depth, and height, offering a sense of physical realism.