Which of the Following Statements Is TRUE About Equilibrium in Markets

question 51

Multiple Choice

Which of the following statements is TRUE about equilibrium in markets? I. Demand always equals supply at equilibrium. II. Quantity demanded always equals quantity supplied at equilibrium. III. In a market diagram, demand and supply cross each other at the equilibrium point.

• A) I only
• B) I, II, and III
• C) II and III only
• D) I and III only

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Definitions:

Lonely

A complex and usually unpleasant emotional response to isolation or lack of companionship.

Helpless

A state of lacking the power or ability to act effectively or to control one's own situation, often resulting from adverse circumstances or psychological conditions.

Biological Instincts

Innate tendencies or fixed patterns of behavior present in animals and humans that are driven by biological factors.

Childhood Trauma

Experiences of distressing or disturbing events during childhood that can have long-lasting psychological effects.