Multiple Choice
A competitive equilibrium is a state of affairs in which
A) markets clear, and output is maximized.
B) agents are price-takers, and markets clear.
C) all agents are equally well-off and agents are price-takers.
D) output and total factor productivity are maximized.
E) output is maximized, and all agents are equally well-off.
Correct Answer:
Verified
Correct Answer:
Verified
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