Ask Question
BusinessBusiness
18 July, 10:41

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

+5
Answers (1)
  1. 18 July, 13:08
    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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Hector has decided that he wants to open a business in which he sells garden and landscaping plants and provides classes on how to care for flowers and vegetables.
Answers (1)
The present value of a single sum is: Select one: A. The amount that would be paid today to receive a single amount at a specified date in the future B.
Answers (1)
Skymont Company wants an ending inventory each month equal to 30% of that month's cost of goods sold. Cost of goods sold for February is projected at $45,000. Ending inventory at the end of January was $12,000.
Answers (1)
In a floating exchange rate system, a current account deficit is likely to be corrected by: a. a depreciation of the home currency b. an appreciation of the home currency c. a prolonged period of hyperinflation d.
Answers (1)
You just won the grand prize in a national writing contest! As your prize, you will receive $500 a month for 50 months. If you can earn 7 percent on your money, what is this prize worth to you today
Answers (1)
New Questions in Business
What effect do you think seasonal demand might have on the price of goods? Explain why.
Answers (1)
Welfare economics explains which of the following in the market for televisions? a. The government sets the quantity of televisions; firms respond to the quantity by charging a specific price. b.
Answers (1)
Cardinal Company is considering a five-year project that would require a $2,890,000 investment in equipment with a useful life of five years and no salvage value. The company's discount rate is 12%.
Answers (1)
Parwin Corporation plans to sell 42,000 units during August. If the company has 17,500 units on hand at the start of the month, and plans to have 18,500 units on hand at the end of the month, how many units must be produced during the month?
Answers (1)
Clip Joint company is ready to sell its bonds. Which of the following financial questions is most relevant to the issue of the bonds and that investors will most likely want answered before they purchased the bonds?
Answers (1)
Home » Business » In 3 or 4 sentences, explain the relationship between the equilibrium price and efficiency.
Sign Up Forgot Password?