The Most Important Characteristic of the Equilibrium Price Is That

question 100

Multiple Choice

The most important characteristic of the equilibrium price is that it _____

• A) guarantees that producers earn profit.
• B) clears the market, leaving neither a surplus nor a shortage.
• C) maximizes the quantity demanded of a good.
• D) minimizes the quantity demanded of a good.
• E) guarantees that buyers maximize their utility.

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Definitions:

Garnishment Process

A legal procedure by which a creditor can collect what a debtor owes by requiring a third party to turn over the debtor's wages or property.

Limitations

Restrictions or time limits within which legal action must be initiated or rights enforced to prevent stale claims.

Counterclaim

A claim made by a defendant in opposition to, or as a retaliation against, the plaintiff's claim in a lawsuit.

Costs(Awarded)

Expenses that a court orders one party to pay another, often as part of the judgment in a legal case.