In a Free Market When There Are Unexploited Gains from Trade

question 94

Multiple Choice

In a free market when there are unexploited gains from trade:

• A) the market is slow to adjust to this situation.
• B) there are sellers who are unwilling to sell at prices buyers are willing to pay.
• C) there are buyers who are willing to pay more for goods than sellers are asking.
• D) an equilibrium price and quantity have been reached.

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Definitions:

Percentage

A number or ratio expressed as a fraction of 100, used to specify a portion of a whole.

Population

The entire group of individuals or items that are the subject of a statistical investigation.

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A visual representation tool that displays the current status of metrics and key performance indicators (KPIs) for an organization.

Descriptive Analytics

The set of analytical techniques that describe what has happened in the past.