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Are markets always in equilibrium?
A. No, they never "settle down" into a stable price and quantity.
B. No, but if there is no outside interference, they tend to move toward equilibrium.
C. Yes, because very few things tend to alter supply and demand.
D. Yes, they are always at the equilibrium point, or very close to it.
Consider we did technological change in the class where it does contribute to one side of the production use that to understand the problem.
Explain the equilibrium price will remain unchanged, smokers will consume the same number of cigarettes. Do you agree or disagree with this view.
Provide an example of a specific industry that you believe fits the model also elucidate your rationale.
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State whether the following decision is a short-run or long-run decision:
For the United States, empirical studies indicate that over the past two decades the cost of international transportation relative to the value of U.S. imports has: Should international transportation costs decrease, the effect on international trade..
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