A competitive equilibrium price that: a. consumers who want to buy the product a

Question

A competitive equilibrium price that:

a.

consumers who want to buy the product at that market price are satisfied.

b.

producers can sell the quantity of product they want to at the current market price.

c.

gains from trade are maximized.

d.

You can get whatever you want.

a.

consumers who want to buy the product at that market price are satisfied.

b.

producers can sell the quantity of product they want to at the current market price.

c.

gains from trade are maximized.

d.

You can get whatever you want.

Explanation / Answer

The correct answer is option (A).

A competitive equilibrium price that consumers who want to buy the product at that market price are satisfied.

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.