Question
Equilibrium in a competitive market reflects a. maximizing behavior on the part of consumers as they try to maximize their satisfaction. b. all of the
Equilibrium in a competitive market reflects
| a. | maximizing behavior on the part of consumers as they try to maximize their satisfaction. | |
| b. | all of the above is correct. | |
| c. | profit maximizing behavior on the part of suppliers. | |
| d. | a stable market outcome; as long as demand and supply stay the same it will not change. |
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Microeconomics A Contemporary Introduction
Authors: William A. McEachern
9th edition
978-0538453714, 538453710, 978-1111415921
