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Is It Theoretically Possible for General Equilibrium to Be Attained

question 12

Essay

Is it theoretically possible for general equilibrium to be attained? Is it likely that general equilibrium will be attained? Explain.


Definitions:

Substantive Ones

Essential or significant matters, issues, or elements that are of the utmost importance.

Bargaining Mixes

The combination of issues, interests, and goals that parties bring to a negotiation table, which are tradeable and negotiable.

Prepare Effectively

The act of making thorough preparations to ensure success or achieve a desired outcome.

Negotiator's Authority

The level of power and decision-making capability vested in a negotiator by their organization or constituency.

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