Market equilibrium occurs when
A. the quantity demanded equals the quantity supplied.
B. the market is changing rapidly.
C. other things remain the same.
D. buyers get the lowest possible price.
E. everyone who wants the good gets the quantity he or she wants.
A. the quantity demanded equals the quantity supplied.
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Which of the following best defines rational behavior?
A. Seeking to maximize total gain regardless of cost B. Analyzing the total gains from a decision C. Seeking to gain by choosing to undertake actions as long as the marginal costs exceed the associated marginal benefits D. Improving net gain by pursuing decisions as long as the marginal benefits exceed the marginal costs
The production of durable goods is more stable than the production of nondurables over the business cycle.
Answer the following statement true (T) or false (F)