Which of the Following Statements Is Not True in Relation

question 25

Multiple Choice

Which of the following statements is not true in relation to powers of the Australian Competition and Consumer Commission?

• A)It can demand access to documents and other evidence.
• B)It can commence civil actions and criminal prosecutions breaches of the Australian Consumer Law.
• C)It can liquidate (close)a corporation which commits serious breaches of the Australian Consumer Law.
• D)It can impose infringement notices ('on the spot' fines)for breaches of the Australian Consumer Law.

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Definitions:

Papayas

No real economic definition; presumably referring to the tropical fruit as a commodity in the context of trade, agriculture, or market pricing.

Grapefruit

A large, tart citrus fruit with a segmented, juicy interior, often eaten for breakfast or used in culinary recipes.

Equilibrium Price

The price point in the market where the amount of goods being offered is the same as the amount of goods being sought by consumers.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price.