Figure 4-18 -Refer to Figure 4-18.At a Price of $20,there Would Be

question 65

Multiple Choice

Figure 4-18
-Refer to Figure 4-18.At a price of $20,there would be a(n)

• A)shortage.The law of supply and demand predicts that the price will fall from $20 to a lower price.
• B)surplus.The law of supply and demand predicts that the price will rise from $20 to a higher price.
• C)excess demand.The law of supply and demand predicts that the price will rise from $20 to a higher price.
• D)excess supply.The law of supply and demand predicts that the price will fall from $20 to a lower price.

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Definitions:

Nontrading Partnership

A type of partnership that engages in activities other than the buying and selling of goods, often focusing on services or other ventures.

Cash Flow Problems

Financial issues that occur when a business does not have enough cash to meet its short-term liabilities and operating expenses.

Management Powers

Refers to the authority vested in managers or executives to make decisions, enforce policies, and oversee the operations and administrative functions of an organization.

Apparent Authority

A form of authority that an agent appears to have based on the principal's actions, leading third parties to reasonably believe the agent has the authority to act.