Which is not true of market equilibrium?
A. Circumstances can change from day to day which make any equilibrium very tentative.
B. All sellers who want to sell at the equilibrium price can find a buyer to sell to.
C. All buyers who want to buy at the equilibrium price can find a seller to buy from.
D. It is the most desirable outcome that a social order could have.
Answer: D
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A decrease in the price of a good will a. increase supply
b. decrease supply. c. increase quantity supplied. d. decrease quantity supplied.
A decrease in the price of pizza will lead to a(n):
A. increase in the demand for pizza. B. increase in the quantity of pizza demanded. C. decrease in the number of consumers. D. decrease in the quantity of pizza demanded.
In the U.S. health care market, the uninsured typically receive health care for:
A. emergencies, but not for preventative care. B. preventative care, but not for emergencies. C. both emergencies and preventative care. D. neither emergencies nor preventative care.
One opportunity cost associated with going to college is
A. paying for the costs of food prepared at home. B. giving up employment possibilities while in college. C. paying for room, board, and other living expenses. D. paying tuition.