The Particular Price That Results in Quantity Supplied Being Equal

question 147

Multiple Choice

The particular price that results in quantity supplied being equal to quantity demanded is the best price because it maximises:

• A)costs of the seller
• B)the total welfare of buyers and sellers
• C)the expenditure of buyers
• D)the profit of buyers

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Definitions:

Thyroid Gland

An endocrine gland located in the neck that produces hormones regulating the body's metabolic rate, heart and digestive function, muscle control, brain development, and bone maintenance.

Pituitary Gland

a small, pea-sized gland located at the base of the brain, responsible for regulating crucial body functions through the release of hormones.

Hypophysis

Another term for the pituitary gland, a small, pea-sized gland located at the base of the brain, responsible for controlling various hormonal activities in the body.

Lethargic

A state of sluggishness, fatigue, or lack of energy, often as a result of illness or medical conditions.