Which of the following is true regarding the equilibrium?

It is a state that can never be achieved

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It is an important idea for predicting economic changes

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It is an unfavourable situation for small scale industries

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It is an unstable condition

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Solution

The correct option is B It is an important idea for predicting economic changes
Equilibrium is an important idea for predicting economic changes. The statement is true regarding the equilibrium. The state of equilibrium arrives when the demand and supply match at a point. This is important to know as it helps what can be the possible conditions that can take place if any of the demand or supply levels change in the economy.

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