A Reversible Reaction Has Reached Equilibrium When Which Condition Is

question 8

Multiple Choice

A reversible reaction has reached equilibrium when which condition is established?

• A)the reverse reaction begins to occur
• B)the concentrations of reactants and products become equal
• C)all of the reactants have been converted into products
• D)the forward and reverse reaction rates become equal

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Definitions:

AVC

Average Variable Cost, the total variable costs (labor, materials, etc.) divided by the quantity of output produced, illustrating how variable costs change with the level of output.

Shutdown Point

The point where a firm's revenue is not enough to cover its variable costs, leading to a decision to cease production temporarily.

Short Run

In economics, a period during which at least one input, like factory size or machinery, is fixed and cannot be changed, as opposed to the long run where all factors can be varied.

Long Run

A period in economic analysis where all inputs can be adjusted and there are no fixed factors of production.