Which of the Following Statements Is True of Equilibrium

question 63

Multiple Choice

Which of the following statements is true of equilibrium?

• A) Economic agents have an incentive to divert from equilibrium.
• B) Each economic agent can reach equilibrium irrespective of the actions of others.
• C) In equilibrium, the opportunity cost of the choices made by each economic agent is zero.
• D) In equilibrium, all economic agents are choosing the best feasible option simultaneously.

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Definitions:

Inadvertently Omitted

Accidentally left out or not included, typically referring to information or details that were missed unintentionally.

Depreciation Expense

The allocation of the cost of a tangible fixed asset over its useful life, reflecting the decrease in value over time.

Balance Sheet

A statement presenting a snapshot of a company’s financial position, including assets, liabilities, and shareholders’ equity.

Related Asset

An asset that is connected or associated with another asset in a business, often through ownership or use in similar processes.