Which of the Following Is the Correct Way to Describe

question 55

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 no longer apply.
• D)At equilibrium, scarcity is eliminated.

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Definitions:

Observational Learning

The process of learning by observing the behavior of others and the consequences of that behavior.

Associating Two Stimuli

The process of forming a connection or association between two different stimuli, a foundational concept in classical conditioning.

Sensitization

An increase in behavioral response after exposure to a stimulus.

Habituation

The diminishing response to a frequently repeated stimulus over time.