Map A Sapling Learning macmillan Which set of conditions best describes partial
ID: 1224118 • Letter: M
Question
Map A Sapling Learning macmillan Which set of conditions best describes partial equilibrium? Firms are producing where the marginal utility per dollar spent on each good or service is equal and households are consuming where marginal cost equals the price. Firms producing where marginal cost marginal utility and households are consuming O the of good service the price. Firms are producing where marginal cost equals the price and households are consuming where the marginal utility per dollar spent on each good or service is equal. Firms are producing where marginal utility equals the price and households are consuming where the marginal cost of each good or service is equal. Which statement best summarizes the difference between partial and general equilibrium analysis? o equilibrium considers both on either the supply or demand side of the market but general sides simultaneously. Partial equilibrium focuses Partial equilibrium focuses on a single market but general equilibrium considers every market simultaneously Partial equilibrium examines a market moving toward but not necessarily at equilibrium and general equilibrium requires the market under observation to be at equilibrium o Partial equilibrium focuses on either factor or goods markets but not both while general equilibrium considers every market simultaneouslyExplanation / Answer
top queston- Firms are producing where marginal utility equals the price and households are consuming where the margnal cost of each good and service is equal.
In second question- Partial equilibrium focuses on single market but general equiibrium considers every market simultaneously. This ia the actual definition of both equlibriums.