Assumptions make the nation easier to understand because, Ask an Expert

Economics

Q. Assumptions make the world easier to understand because they simplify reality and focus our attention?

Q. Which of the following statements is true?

Choose one answer.

a. The concept of equilibrium requires that all individuals have an equal amount of income.

b. If equilibrium in a market exists, then the price in that market will not fluctuate by more than 5%.

c. If equilibrium in a market exists, then there will be no remaining opportunities for individuals to make themselves better off.

d. Equilibrium in a market will exist when the number of buyers is equal to the number of sellers.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9273375

Have any Question?Write your Review or question?

Related Questions in Business Economics

Screening test impaired glucose tolerancenot

Screening test impaired glucose tolerance not impaired Positive 17 13 Negative 8 37 A new non invasive screening test is proposed that is claimed to be able to identify patients with impaired glucose tolerance based on a ...

You want to be a millionaire when you retire in 35 yearsa

You want to be a millionaire when you retire in 35 years. a. How much do you have to save each month if you can earn an annual return of 10.7 percent? (Do not round intermediate calculations and round your answer to 2 d ...

Albert hoffmans wife has an ipod shuffle with five songs in

Albert Hoffman's wife has an iPod shuffle with five songs in her library: November Rain by Guns 'N Roses Ain't No Mountain High Enough by Nicholas Ashford and Valerie Simpson Call Me Maybe by Carly Rae Jepsen Rainbow ...

What type of monopoly is sydney water describe the main

What type of monopoly is Sydney Water? Describe the main characteristics of this monopoly type in general and in relation to Sydney Water.

Describe five changes in the vaiables that will cause

Describe five changes in the vaiables that will cause demand for a product to increase, shifting the demand curve to the right?

Fabric is cut into pieces mean962 standard deviation02

Fabric is cut into pieces. Mean=96.2 Standard deviation=0.2. Randomly select 20 pieces. Determine the probability that 19 or fewer have a length less than 96.5 inches. Determine the probability that all 20 are between 96 ...

A researcher records the repair cost fornbsp8nbsprandomly

A researcher records the repair cost for 8 randomly selected washers. A sample mean of $?60.46 and standard deviation of $?18.36 are subsequently computed. Determine the 90% confidence interval for the mean repair cost f ...

Compare and contrast static and dynamic efficiency applied

Compare and contrast static and dynamic efficiency applied to the fossil fuel market. Compare and contrast the concepts of resource rent and user cost as applied to this market and the potential differences in optimal re ...

Suppose in equilibrium and in a closed economy at the point

Suppose, in equilibrium and in a closed economy, at the point of tangency between the iso-value line and the ppf, we observe that MPLf= 8 MPLm= 2 and PM=1 what is Pf? what is the wage?

What is an example of a repetitive and specific task in

What is an example of a repetitive and specific task in which you use descriptive statistics on a daily basis. What is an example of how you consciously or subconsciously rely on the presence of descriptive statistics in ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert