Which of the Following Statements Concerning Ideas About the Relationship

question 72

Multiple Choice

Which of the following statements concerning ideas about the relationship between medieval kings and their subjects is correct?

• A)Law should be imposed on inferiors by an absolute monarch.
• B)Kings were not bound by the law.
• C)Law required a collaboration between the king and his subjects.
• D)Lords had no right to resist a monarch who violated his agreements.
• E)The power of representative assemblies exceeded the power of kings.

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Definitions:

Price

The monetary value assigned to the acquisition of a service or good.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive.

Equilibrium

A state of balance in a market or economy where supply equals demand, with no external influences causing disruption.