An equilibrium in which each individual optimizes,taking market prices as given,is called

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A Walrasian equilibrium is characterized by each individual optimizing their behavior based on market prices as given, and it is also referred to as a competitive equilibrium. A Nash equilibrium refers to a situation where each player chooses the best strategy given the strategies of the other players, but it does not necessarily involve market prices. An Edgeworth equilibrium refers to a situation where the distribution of goods between two individuals is efficient, but it is not relevant to the question of market prices. A robust equilibrium refers to a situation that remains stable even under a range of assumptions or perturbations, but it also does not specifically relate to the question of market prices.

An Equilibrium in Which Each Individual Optimizes,taking Market Prices as Given,is