Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
justxdrive justxdrive
wrote...
Go to Answer
Posts: 138
Rep: 0 0
A year ago
Which of the following statements correctly describes perfectly competitive market equilibrium?

▸ Multiple equilibriums are possible for a given set of demand and supply curves in a competitive market.

▸ Competitive markets converge to the price at which quantity supplied and quantity demanded are equal.

▸ There is always excess supply or excess demand when the competitive market is in equilibrium.

▸ Government intervention is necessary for the competitive market to reach equilibrium.
Textbook 
Macroeconomics

Macroeconomics


Edition: 3rd
Authors:
Read 40 times
1 Reply
Replies
Answer verified by a subject expert
thomas1993thomas1993
wrote...
#1
Posts: 128
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

justxdrive Author
wrote...

A year ago
Correct Slight Smile TY
mikeh209
wrote...

Yesterday
Thank you, thank you, thank you!
halyna
wrote...

2 hours ago
This calls for a celebration Person Raising Both Hands in Celebration
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1147 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 328
  
 839
  
 774
Your Opinion
Previous poll results: Do you believe in global warming?