Equilibrium: wage (W) rates in a labor market mean that everybody is happy. prices (P) in product markets are always at their optimal point for everyone in society's utility level. O is a neutral concept, in that somebody gains and somebody loses when markets have completed their adjusting toward their point of stability. O is a meaningless concept because i have not learned anything about the economics of markets this seme. G Search or type URL 6 8.

Equilibrium: wage (W) rates in a labor market mean that everybody is happy. prices (P) in product markets are always at their optimal point for everyone in society's utility level. O is a neutral concept, in that somebody gains and somebody loses when markets have completed their adjusting toward their point of stability. O is a meaningless concept because i have not learned anything about the economics of markets this seme. G Search or type URL 6 8.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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