# [Answer] Which of the following correctly defines the term “equilibrium”?A) It refers to analysis that uses data to arrive at conclusions.B) It refers to a situation where all agents are simultaneously optimizing.C) It refers to an optimizing decision made by an individual economic agent.D) It refers to government intervention that efficiently allocates scarce resources.

###### Answer: B) It refers to a situation where all agents are simultaneously optimizing.
Which of the following correctly defines the term “equilibrium”?A) It refers to analysis that uses data to arrive at conclusions.B) It refers to a situation where all agents are simulta…