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Which of the following characteristics relate to equilibrium? a

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Which of the following characteristics relate to equilibrium?

a. The sum of consumer surplus and producer surplus.

b. When a change in some economic factors related to demand causes a different quantity to be demanded at every price.

c. The combination of price and quantity where there is no economic pressure from surpluses or shortages that would cause price or quantity to shift.

d. At the existing price, the quantity demanded exceeds the quantity supplied.

Option 1

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