When a market is in equilibrium:
A)a person could do better if he or she did something different.
B)people have exploited all opportunities to make themselves better off.
C)the government has wrongly interfered in this market.
D)markets are not working efficiently.

Question

Quizplus · Accepted Answer

When a market is in equilibrium, it means that the supply and demand are equal, and there is no excess supply or demand. This condition indicates that all opportunities to make oneself better off have been exploited, and the market is functioning efficiently. Therefore option B is the best choice. The other options are incorrect because equilibrium in the market means that the market is working smoothly, and there is no government intervention or inefficiency.

When a Market Is in Equilibrium