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Equilibrium:
  • a)
    is a state that can never be achieved in economics
  • b)
    is an important idea for predicting economic changes
  • c)
    is a stable condition
  • d)
    is an unstable condition
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Equilibrium:a)is a state that can never be achieved in economicsb)is a...
Equilibrium is an important idea for predicting economic changes.  Economic equilibrium is defined as the point at which supply equals demand for a product, with the equilibrium price existing where the hypothetical supply and demand curves intersect.
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Equilibrium:a)is a state that can never be achieved in economicsb)is an important idea for predicting economic changesc)is a stable conditiond)is an unstable conditionCorrect answer is option 'B'. Can you explain this answer?
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