Economists Emphasize the Importance of Equilibrium in Markets Because

question 58

Multiple Choice

Economists emphasize the importance of equilibrium in markets because

• A)trading in markets can only occur at the equilibrium price and quantity
• B)the behavior of buyers and sellers will automatically guide the market toward the equilibrium price and quantity
• C)all buyers and sellers are better off at the equilibrium point than any other price and quantity combination
• D)it represents a compromise between sellers hoping for low prices and buyers searching for high prices
• E)it is the only price-quantity combination that guarantees that the poorest members of society can purchase the good or service

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Definitions:

Audience Segment

A subgroup of a larger audience distinguished by specific characteristics, such as demographics or behavioral patterns, allowing for targeted content or advertising.

Newspapers

Printed publications consisting of sheets of paper that contain news, articles, advertisements, and other information.

Years

Units of time consisting of 365 or 366 days, divided into 12 months, used as a measure of time passing and for historical timelines.

Power Elite Model

A theory in sociology that suggests power is concentrated in the hands of a small, elite group of people, institutions, and corporations.