At Equilibrium,quantity Sold Equals the Quantity Bought

question 48

Multiple Choice

At equilibrium,quantity sold equals the quantity bought.This implies that

• A) to sell more, producers require more in payment than consumers are willing to pay.
• B) government regulation is necessary.
• C) to sell less would require a lower price but would yield greater profit.
• D) those who don't buy have been treated unfairly.

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Definitions:

Zero Inventories

An inventory management approach aimed at minimizing stock levels, often associated with Just-In-Time (JIT) manufacturing systems.

Batching Economies

The cost advantages gained by producing or processing goods in large batches, as opposed to individually or in small quantities.