Choose the correct answer ____________.

Partial equilibrium- Keynes

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General equilibrium - Marshall

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Group equilibrium - Chamberlin

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Stable equilibrium- Mrs. Joan Robinson

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Solution

The correct option is C Group equilibrium - Chamberlin
The concept of group equilibrium was introduced by Chamberlin. Group equilibrium represents the price and output of organizations having close substitute.
Chamberlin model is an advance over the previous models in that it assumes that the firms are sophisticated enough to realise their interdependence, and that it leads to a stable equilibrium, which is the monopoly solution.

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