Which of the Following Is the Correct Way to Describe

question 235

Multiple Choice

Which of the following is the correct way to describe equilibrium in a market?

• A)At equilibrium, demand equals supply.
• B)At equilibrium, quantity demanded equals quantity supplied.
• C)At equilibrium, market forces are no longer at work.
• D)Equilibrium is a tendency, a state of perpetual motion.
• E)Equilibrium is the best combination of price and quantity.

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Definitions:

Doge's Palace

A historic Venetian palace in Italy, once the residence of the Doge of Venice, known for its Gothic architecture and position overlooking the Grand Canal.

Venice

A city in northeastern Italy, famed for its canals, Gothic and Renaissance architecture, and as a center for trade and the arts during the Renaissance.

Maestà

A term used specifically to describe paintings, sculptures, or altarpieces of the Virgin Mary enthroned and surrounded by a host of angels and saints, originating from the Italian word for "majesty."

Lamentation

An expression of deep sorrow or grief.