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Why is Equilibrium considered Efficient?
In an equilibrium state, resources are allocated in a way that maximizes overall welfare and there is no way to make anyone better off without making someone else worse off. This efficiency is achieved because markets clear, leading to the best possible allocation of resources given the constraints in the economy. Any deviation from this equilibrium would result in a loss of overall welfare.
Which set of changes would be best to shift the equilibrium to the right in this system?
To shift the equilibrium to the right in a chemical system, you can increase the concentration of the reactants, decrease the concentration of the products, or increase the temperature if the reaction is endothermic. Additionally, removing a product or adding a catalyst may also help facilitate the forward reaction without changing the overall equilibrium position. Changes that favor the formation of products will effectively drive the equilibrium to the right.
What is the negative feedback of the dynamic equilibrium?
Negative feedback in dynamic equilibrium helps to maintain stability by counteracting any changes that disrupt the equilibrium. It ensures that the system returns to its original set point, minimizing fluctuations and maintaining homeostasis.
Does taking water out of an equilibrium reaction change the equilibrium constant?
No, the equilibrium constant is independent of concentration as long as the ratio of products and reactants remains as is. It can be effected by anything that would influence the ratio of products and reactants, such as changes in temperature or the addition of a catalysis.
What medical reasons would cause equilibrium to be off?
Medical conditions that can disrupt equilibrium include inner ear disorders such as vestibular-nerve damage or Meniere's disease, neurological disorders like multiple sclerosis or stroke, and medication side effects that affect balance. Additionally, conditions like migraines or benign paroxysmal positional vertigo can also cause issues with equilibrium.
What happens when wages are set above the equilibrium level by law?
Firms employ fewer workers than they would at the equilibrium wage.
What will happen to consumer and producer surplus when a price floor is eliminated?
If the price floor was set below the equilibrium price, then the removal of this price floor would have no effect on producer and consumer surplus. If the price floor was set above the equilibrium price for that product, then prices with shift down again to the equilibrium price. Consumers would want to buy more, and producers would want to sell more, until they reach the equilibrium price and quantity. In other words all surpluses of deficits would eventually disappear.
What is the pricing stratagies of tradional food?
Pricing strategies of traditional food is determined by the traditional food market. They will set a price based off the demand. Usually in a normal graph you would choose the equilibrium price of traditional food.
What would happen to a system at equilibrium if the temperature changed?
If the temperature of a system at equilibrium changed, the equilibrium position would shift to counteract the change. If the temperature increased, the equilibrium would shift in the endothermic direction to absorb the excess heat. If the temperature decreased, the equilibrium would shift in the exothermic direction to release more heat.
What would happen to a a system at equilibrium if the temperature were changed?
the equilibrium constant would change
What would happen to a system a equilibrium if the temperature were changed?
the equilibrium constant would change
What is the condition called when your equilibrium is off?
Vertigo
What would cause the evaporator fan motor to cycle on and off when the unit is set to off?
Thermostat set on intermediate
Can sinus infections cause your equilibrium to be off?
yes
Can a sinus infection cause your equilibrium to be off?
yes
When a country's balance of payment is set to in equilibrium?
When imports and exports are the same
What is a maximum price set below the equilibrium price?
Price Floor.
