If Demand Is Represented as Q_d = 24 - P

question 66

Multiple Choice

If demand is represented as Q_d = 24 - P and supply is represented as Q_s = 6 + 2P, the equilibrium price is

• A) $3.
• B) $6.
• C) $10.
• D) $18.

---

Definitions:

Knowledge Of Falsity

Awareness or acknowledgment by a person that a statement or piece of information is false or misleading, often a crucial element in fraud and defamation cases.

Concealment

The act of hiding information or a fact, often leading to legal implications if material facts are withheld in a transaction.

Claim Of Fraud

A legal allegation that an individual or entity intentionally deceived another to cause harm or loss, typically financial.

Real Property

Land and anything permanently attached to it, such as buildings or structures, which is considered immovable.