A Market Is in Equilibrium

question 25

Multiple Choice

A market is in equilibrium:

• A)provided there is no surplus of the product
• B)at all prices above that shown by the intersection of the supply and demand curves
• C)if the amount that producers want to sell is equal to the amount that consumers want to buy
• D)whenever the demand curve is downward-sloping and the supply curve is upward-sloping
• E)at all prices below that shown by the intersection of the supply and demand curves

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Definitions:

Heredity

The passing of genetic traits from parents to offspring, determining certain characteristics of the individual.

Intelligence

The ability to learn from experience, adapt to new situations, understand and handle abstract concepts, and use knowledge to manipulate one's environment.

Identical Twins

Twins that originate from a single fertilized egg, sharing the same genetic material and typically having very similar appearances.

Mild

A descriptor indicating something that is gentle or not severe in intensity or effect.