Figure 33-7

-In Figure 33-7, the only sustainable long-run equilibrium position is at point

Question

Figure 33-7
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-In Figure 33-7, the only sustainable long-run equilibrium position is at point

Quizplus · Accepted Answer

In the context of economic models, a sustainable long-run equilibrium position typically refers to a point where supply equals demand, and the market can operate efficiently without external interventions. Point C is likely to represent such a balance, where the quantity supplied meets the quantity demanded at a stable price, ensuring a sustainable long-run equilibrium.

Figure 33-7 ​

Figure 33-7