Market Equilibrium Is Considered Efficient Because

question 131

Multiple Choice

Market equilibrium is considered efficient because

• A) quantity supplied equals quantity demanded.
• B) the price consumers pay equals the amount producers receive.
• C) it produces the largest possible total economic surplus.
• D) excess supply is zero.
• E) excess demand is zero.

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Definitions:

Symbolic Leader

Uses symbols to establish and maintain a desired organisational culture.

Organisational Culture

The shared values, beliefs, practices, and norms that define the social and psychological environment of a business or organization.

Symbols

Objects, signs, or images used to represent ideas, concepts, or values, often carrying significant meaning within a particular culture or context.

Antagonistic Coevolution

A form of evolution where two species exert selective pressures on each other, leading to adaptations that may benefit one species to the detriment of the other.