Once an Equilibrium Is Achieved,it Can Persist Indefinitely Because

question 147

Multiple Choice

Once an equilibrium is achieved,it can persist indefinitely because

• A) shocks that shift the demand curve or the supply curve cannot occur.
• B) shocks to the demand curve are always exactly offset by shocks to the supply curve.
• C) the government never intervenes in markets at equilibrium.
• D) in the absence of supply/demand shocks no one applies pressure to change the price.

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Definitions:

Aggregate Factor Costs

The total cost of all inputs used in the production of goods or services, such as labor, capital, and materials.

Total Demand

The complete quantity of a product or service that all consumers in a market wish to purchase at a given price and time.

Market Share

The percentage of total sales volume in a market captured by a brand or company, indicating its competitiveness and position relative to its competitors.

Uniformly Spread

An evenly distributed condition where resources, instances, or values are spaced out over a specified range or area with no concentration in any part.