Which of the Following Is Likely to Be True for a Market

question 95

Multiple Choice

Which of the following is likely to be true for a market that is NOT in equilibrium?

• A) There are no shortages or surpluses in the market.
• B) The quantity demanded of the good equals the quantity supplied.
• C) Buyers benefit from trading in a market where the price is below the equilibrium price.
• D) Sellers are likely to adopt strategies like discounting.

Recognize the legal consequences of fraudulent misrepresentation and how it can affect contract validity.

Understand the concept and implications of mutual mistake in contract agreements.

Identify the elements required to prove duress and its effect on contracts.

Grasp the concept of scienter and its relevance in cases of fraud.

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Definitions:

Legal Counsel

Professional legal advice or services provided by a qualified attorney or law firm.

S Corporation

A type of corporation that is eligible for, and elects, special taxation status.

Shareholders

Individuals or entities that own shares in a company, giving them partial ownership and potentially a say in company decisions depending on the type of shares held.

Sole Proprietorship

A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.