Equilibrium Is the Condition That Exists

question 228

Multiple Choice

Equilibrium is the condition that exists

• A) whenever there is no government intervention in the market.
• B) when the demand curve intersects the price axis.
• C) when quantity demanded equals quantity supplied.
• D) when the demand curve intersects the quantity axis.

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Definitions:

Relative Frequency Histogram

A type of histogram that displays the relative frequencies (proportions or percentages) of values within a dataset.

Histogram

A graphical representation of the distribution of numerical data, where the data is divided into bins and the frequency of data in each bin is represented by the height of the bar.

Relative Frequency Histogram

A type of histogram where each bar's height represents the proportion of data that falls into each category, compared to the total data set.

Qualitative Data

Data that describes qualities or characteristics that cannot be measured with numbers, often involving categories or descriptions.