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Quiz
Related Lesson
Does the Equilibrium Model Work?
Knowledge Check
Knowledge Check
Question 1 of 7
What happened in Vernon Smith’s lab?
The price and quantity were close to equilibrium but gains from trade were far from the maximum.
The price and quantity were far from equilibrium and gains from trade were far from the maximum.
The price and quantity were far from equilibrium but gains from trade were close to the maximum.
The price and quantity were close to equilibrium and gains from trade were close to the maximum.
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Related Courses
Course
Principles of Microeconomics
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