Which of the Following Statements Is Incorrect

question 47

Multiple Choice

Which of the following statements is incorrect?

• A)A partial equilibrium analysis studies the determination of price and output in a single market.
• B)A general equilibrium analysis studies the determination of price and output in more than one market simultaneously.
• C)A partial equilibrium analysis ignores either consumers or producers in the analysis and looks only at one-half of the market.
• D)A general equilibrium analysis would be useful to study two goods that are linked in some way, such as complementary or substitutable goods.

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