Is Equilibrium Always at an Optimal Level of Output? Explain

question 128

Essay

Is equilibrium always at an optimal level of output? Explain your answer.

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Definitions:

Letters

Characters or symbols used in written language to represent sounds or to form words.

Number

A mathematical object used to count, measure, and label.

Categorical Syllogism

A form of deductive reasoning consisting of three propositions that are categorical in nature, presenting a relationship between a subject and a predicate.

Minor Term

in syllogistic logic, the term that appears in both the conclusion and one premise of a syllogism, but not the major premise.