If a Market Is in Equilibrium, Then We Know That

question 73

Multiple Choice

If a market is in equilibrium, then we know that price equals marginal benefit because

• A)the market supply curve reflects marginal cost.
• B)marginal benefit never changes.
• C)the market demand curve reflects marginal benefit.
• D)consumers are required by law to equate marginal benefit to price.
• E)every consumer experiences the same benefits.

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Definitions:

Rules

Explicit or understood regulations or principles governing conduct within a particular activity or sphere.

Social Relationships

Connections between individuals in a society, shaped by social norms, interactions, and structures, influencing behavior and social dynamics.

Held

A legal term referring to a court's decision or ruling on a particular case or legal question.

Mothering

The act and practice of raising and nurturing children, often implying the emotional and logistical aspects of caregiving.