Which of the Following Is Not an Equilibrium Condition in a General

question 57

Multiple Choice

Which of the following is not an equilibrium condition in a general equilibrium analysis of a competitive economy?

• A)Input markets are in equilibrium.
• B)The quantity supplied equals the quantity demanded.
• C)Factor incomes are evenly divided.
• D)The marginal rate of transformation equals the marginal rate of substitution.

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Definitions:

Mulla Sadra

A Persian philosopher who led the Iranian cultural renaissance in the 17th century and is known for his contribution to Islamic philosophy, particularly the transcendent philosophy or al-Hikmah al-Muta'aliyah.

God's Relationship

The way in which the divine or a deity is understood to relate to and interact with the world and its inhabitants.

Persian Philosopher

A philosopher originating from Persia (modern-day Iran) known for contributing to the rich tradition of Persian intellectual thought throughout history.

Nondominant Traditions

Cultural, philosophical, or religious traditions that have not been the principal focus or held significant power in mainstream society.