-In Figure1.1 If Price Is 7, Then

question 20

Multiple Choice

-In Figure1.1 if price is 7, then

• A)the market is in equilibrium.
• B)there is excess quantity supplied.
• C)there is excess quantity demanded.
• D)the market clears.

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Definitions:

Capital Contributions

Funds or other assets provided to a company by its owners or shareholders to support operations or expand the business.

Net Income

The total profit or loss of a company after all expenses, taxes, and costs have been subtracted from total revenue.

Income Allocation

The process of distributing a company's earnings or an investment's returns among various stakeholders or investment accounts.

Remainder Portion

The part of an estate that remains after all debts, taxes, expenses, and specific bequests have been paid or distributed, often transferred to the remainderman as specified in a will or trust.