Partial equilibrium analysis is the study of:
A)how equilibrium is determined in more than one market simultaneously.
B)the determination of equilibrium in a market with incomplete information on price and output.
C)the determination of equilibrium in a given market,considering the influence of other markets.
D)how equilibrium is determined in a given market,independent of other markets.

Question

Quizplus · Accepted Answer

Partial equilibrium analysis focuses on the determination of equilibrium in a given market, independent of other markets. It only considers the specific factors and forces that affect the market in question, ignoring how changes in other markets may impact the equilibrium. This approach is useful for understanding the behavior of individual markets and making decisions based on specific market conditions.

Partial Equilibrium Analysis Is the Study Of