Which of the Following Is True When a Market Is

question 53

Essay

Which of the following is true when a market is in equilibrium and there is no outside intervention to change the equilibrium price?
A.Total surplus is minimized.
B.Inefficiency is maximized.
C.No mutually beneficial trades are missed.
D.Some mutually beneficial trades may be missed.

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Definitions:

Low-Cost Furniture

Refers to furniture options available at affordable prices aiming at budget-conscious consumers.

Perspective

A particular attitude towards or way of regarding something; a point of view.

Customer

A customer is an individual or entity that purchases goods or services from another individual or entity, often for personal use.

Unmet Needs

Desires or requirements of consumers that have not been addressed or satisfied by existing products or services in the market.