Answer-Walraw’s Law states the following:

Walrass law is an economic theory, which states that the existence of excess supply in one market must be matched by excess demand in another market so that both factors are balanced out. Walrass law asserts that an examined market must be in equilibrium if all other markets are in equilibrium.

Question

Walraw’s Law states the

following:

A If (n-1) markets clear in a total of n markets, market n will also automatically clear

B There are economic profits in a state of general equilibrium of the economy

C An individual’s utility is determined by consumption and leisure

D Other things being equal, an increase in price level of a commodity will reduce the quantity demanded of it.

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Walraw&rsquo;s Law states the

Solution

Walraw’s Law states the