Multiple Choice
Which of the following statements is true of equilibrium?
A) Economic agents have an incentive to divert from equilibrium.
B) Each economic agent can reach equilibrium irrespective of the actions of others.
C) In equilibrium, the opportunity cost of the choices made by each economic agent is zero.
D) In equilibrium, all economic agents are choosing the best feasible option simultaneously.
Correct Answer:
Verified
Correct Answer:
Verified
Q58: Students in a class are discussing how
Q59: Define economics.Who are economic agents?
Q60: Each member in a group might do
Q61: Which of the following statements is true?<br>A)
Q62: The following table shows the various combinations
Q64: Which of the following statements is true?<br>A)
Q65: Assume that a house is rented by
Q66: Which of the following statements correctly highlights
Q67: Maria has to choose between driving and
Q68: Define the three key principles of economics.