According to the Equilibrium Principle

question 93

Multiple Choice

According to the equilibrium principle:

• A)unregulated markets tend to reach equilibrium prices and quantities without government regulation.
• B)once a market has reached equilibrium, price will not change.
• C)collective action cannot improve on individual action.
• D)market equilibrium exploits all opportunities for individual gain, but may not exploit gains possible through collective action.

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