Economics · Microeconomics
The concept of Walras' Law implies that:
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- 1If all but one market is in equilibrium, the remaining market must be in disequilibrium
- 2Excess demand in one market is always offset by deficit supply in another
- 3Total demand equals total supply in every market at all prices
- 4If all but one market is in equilibrium, the remaining market must also be in equilibrium✓
Correct answer
If all but one market is in equilibrium, the remaining market must also be in equilibrium
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