Economics · General Equilibrium Theory
Walras's Law states that in a general equilibrium model with n markets:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1All n markets must clear simultaneously
- 2The sum of excess demands across all markets equals zero at any price vector✓
- 3Only the numeraire market need not clear
- 4Excess supply in one market implies excess demand in all others
Correct answer
The sum of excess demands across all markets equals zero at any price vector
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