Today, economists classify market equilibrium as a behavior demonstrated by an entire system that is not found in any of its constituent parts; this is known as an emergent property.

Question

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Market equilibrium is considered an emergent property because it arises from the interactions of buyers and sellers in a market, not from any individual participant's actions. It reflects a state where supply equals demand, a condition that emerges from the collective behavior of all market participants.

Today, Economists Classify Market Equilibrium as a Behavior Demonstrated by an Entire