Ask Question
BusinessBusiness
27 August, 22:04

In 3 or 4 sentences, explain the relationship between the equilibrium price and efficiency.

+4
Answers (1)
  1. 27 August, 22:05
    0
    When a market is in equilibrium, then that means that the economy is functioning efficiently. This happens because producers in many markets do not waste their resources. They can, instead, use these resources to produce based on the supply and demand laws which means that the economy is efficient.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In 3 or 4 sentences, explain the relationship between the equilibrium price and efficiency. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Barney builds custom wooden birdhouses. he can make 150 birdhouses per month and sell them for $50 each. his average total cost is $30 per birdhouse. refer to scenario 13-16. barney is considering hiring his best friend fred to work for him.
Answers (1)
A favorable labor rate variance indicates thatA. Standard Hours Exceed Actual HoursB. Actual Hours Exceed Standard HoursC. The standard rate exceeds the actual rateD. The actual rate exceeds the standard rate
Answers (1)
What economic reason might explain a steep jump in the price of a good or service?
No Answers
Reasons to study operations management include learning а bout: A. how goods and services are produced. B. what operations managers do. C. how people organize themselves for productive enterprise. D. a costly part of the enterprise. E.
Answers (1)
Company A uses long-term debt to finance its assets, and company B uses capital generated from shareholders to finance its assets. Which company would be considered a financially leveraged firm? A) Company A B) Comapny B
Answers (1)
New Questions in Business
An airline company is interested in the opinions of their frequent flyer customers about their proposed new routes. Specifically, they want to know what proportion of them plan to use one of their new hubs in the next 10 months.
Answers (1)
Taylor Bank lends Guarantee Company $92,811 on January 1. Guarantee Company signs a $92,811, 12%, nine-month note. The entry made by Guarantee Company on January 1 to record the proceeds and issuance of the note is
Answers (1)
Why is it important to know the interest rate on your credit card? a) The higher the interest rate, the more money you will be paying back b) The higher the interest rate, the less money you will be paying back c) The lower the interest rate, the
Answers (2)
It is appropriate to use the fixed assets turnover ratio to appraise firms' effectiveness in managing their fixed assets if and only all the firms being compared have the same proportion of fixed assets to total assets. a) trueb) false
Answers (1)
Which of the following actions differentiates an entrepreneur from other small business owners?
Answers (1)
Home » Business » In 3 or 4 sentences, explain the relationship between the equilibrium price and efficiency.
Sign Up Forgot Password?