Which of the following statements are correct?
(a) An equilibrium is stable if its displacement creates condition for its restoration,
(b) An equilibrium is stable if ΔD/ΔP
(c) A supply curve cannot have negative slope,
(d) A demand curve cannot have positive slope,
(e) Under static conditions, the equilibrium is always unstable,
(f) Under dynamic conditions, the equilibrium is always stable,
(g) If demand function is given as Qd = 100 − 10P and supply function as Qs = 100 + 10P, there cannot be equilibrium in the market.
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here