Market Equilibrium Is Considered Efficient Because

question 66

Multiple Choice

Market equilibrium is considered efficient because:

• A)prices are low.
• B)the price consumers pay equals the profit producers receive.
• C)no more trades remain that benefit some without harming others.
• D)it assures that both the buyer and seller earn equal surplus.

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Definitions:

Consideration

The benefit, interest, right, or value given to one party in exchange for some act or promise in a contract.

Intent to be Bound

A party's clear expression or indication through words or actions that they agree to be legally obligated by the terms of a contract or agreement.

Paralegals

Professionals trained in legal matters who assist lawyers in their work, but are not licensed to practice law themselves.

Sales Law

Legislation that governs the sale of goods, ensuring rights, obligations, and remedies in transactions.