Examlex
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.
Closed Question
A type of question that typically requires a yes or no answer or a choice from a set of predetermined options.
Hypothetical Open Question
A type of inquiry that invites an extensive response based on imagined scenarios or conditions, encouraging creative or analytical thinking.
Funnel Sequence
A structured approach to narrow down information or options, typically starting broad and becoming more specific.
Inverted Funnel Sequence
A communication strategy or storytelling method that starts with broad, general information and narrows down to specific details.
Q28: If consumer tastes for electric cars increase
Q34: Figure: Slope<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1063/.jpg" alt="Figure: Slope
Q54: (Table: Willingness to Pay for Peanuts) Look
Q84: (Table: Income and Utility for Whitney) Look
Q132: If a good is a necessity with
Q144: (Table: Choice with Uncertainty) Look at the
Q166: Eric's income increased from $40,000 to $50,000
Q178: (Table: Consumer Surplus and Phantom Tickets) Look
Q191: After graduation from college, you might have
Q313: A good is likely to have an