If Price and Quantity Are Not at Their Equilibrium Positions

question 39

Multiple Choice

If price and quantity are not at their equilibrium positions, then

• A)it is possible to reallocate so that some people are better off without harming others.
• B)a move to another position will not hurt anyone.
• C)a move to another position will help everyone.
• D)government must intervene.

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Definitions:

Reciprocity

A social exchange principle where the actions of one individual lead to a reciprocal action by another, often seen in cooperative behaviors amongst animals and humans.

Altruism

Selfless concern for the well-being of others, where individuals may act to benefit others even at a cost to themselves.

Kin Selection Theory

A theory in evolutionary biology that predicts organisms will behave altruistically towards their relatives to increase the chances of their genetic traits being passed on to future generations.

Cooperative Hunting

The action of different individuals or species working together to hunt prey, increasing their success rate compared to solo efforts.