If a Market Is in Equilibrium, Then We Know That

question 73

Multiple Choice

If a market is in equilibrium, then we know that price equals marginal benefit because

• A)the market supply curve reflects marginal cost.
• B)marginal benefit never changes.
• C)the market demand curve reflects marginal benefit.
• D)consumers are required by law to equate marginal benefit to price.
• E)every consumer experiences the same benefits.

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Definitions:

Mental Age

A measure of an individual's cognitive ability expressed as the age at which an average person reaches the same level of cognitive performance.

Emotional Quotient

A measure of a person's ability to recognize, understand, and manage their own emotions and those of others.

Chronological Age

The actual age of a person or object as measured in years from the date of birth or creation.

Word-recognition Method

A teaching strategy emphasizing the identification and understanding of words in isolation to improve reading skills.