In a Competitive Marketplace,prices Adjust Until

question 109

Multiple Choice

In a competitive marketplace,prices adjust until

• A) MRS's are equal to zero.
• B) excess supply equals excess demand equals zero in all markets.
• C) each consumer has maximized utility subject to his budget constraint.
• D) all firms earn zero profit.

---

Definitions:

Cross-Cultural Conflict

Disagreements or misunderstandings that arise among individuals from different cultural backgrounds.

Neutrality

The state of not supporting or helping either side in a conflict or disagreement.

Empathize

To empathize is to understand and share the feelings of another, allowing for a deep and emotional connection, often used in effective communication and conflict resolution.

Saudi Arabia

A country in the Middle East known for its vast deserts, oil reserves, and as the birthplace of Islam.