Which of Following Is NOT True of an Equilibrium Price

question 96

Multiple Choice

Which of following is NOT true of an equilibrium price?

• A)Consumers who are willing to pay the equilibrium price can acquire the good.
• B)It measures the value of the last unit sold to consumers.
• C)It is always a fair and just price.
• D)Firms who are willing to accept the equilibrium price can sell what they produce.

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Definitions:

Phase Angle

A measurement, often in degrees or radians, indicating the difference in phase between two waveforms.

Parallel Circuit

An electrical circuit configuration where components are connected alongside each other, leading to the same voltage across all components but different current through each.

Inductive Reactance

The opposition that inductors present to current change in AC circuits, measured in Ohms.

Power Factor

A dimensionless number between -1 and 1 that represents the phase difference between the voltage and current in an alternating current (AC) electrical circuit.