Each of These Is True at Equilibrium Except That

question 69

Multiple Choice

Each of these is true at equilibrium except that

• A)quantity demanded is equal to quantity supplied.
• B)the market is said to clear,there is not surplus or shortage.
• C)the buyers can buy as much as they want at the market price.
• D)the sellers can sell as much as they want at the market price.
• E)All of these statements are true at equilibrium.

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Definitions:

Public Utilities

Companies that provide essential services such as water, electricity, and gas to the public and are often regulated by the government.

State Lotteries

Government-run gambling operations where participants buy tickets for a chance to win cash prizes, often used to raise funds for public services.

Federal Tax Revenue

The income received by the federal government from taxes imposed on individuals, businesses, and other entities, used to fund government operations and public services.

Personal Income

The total annual income received by an individual, including wages, dividends, interest, and government transfers.