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Which of the following statements is TRUE of equilibrium?

cacerami

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Which of the following statements is TRUE of equilibrium?

Which of the following statements is TRUE of equilibrium?

▸ In equilibrium, the opportunity cost of the choices made by each economic agent is zero.

▸ In equilibrium, all economic agents are choosing the best feasible option simultaneously.

▸ Economic agents have an incentive to divert from equilibrium.

▸ Each economic agent can reach equilibrium irrespective of the actions of others.

Textbook

Macroeconomics

Macroeconomics

Edition: 3^rd

Authors: Acemoglu, Laibson, List

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