Which of the Following Could Explain Why There Was a Stampede

question 2

Multiple Choice

Which of the following could explain why there was a stampede at the Richmond International Raceway where 1,000 laptops were being sold at $50 each?

• A) The demand for laptops is not very responsive to price.
• B) The price of $50 per laptop was above the equilibrium price of laptops.
• C) The quantity of laptops demanded at $50 was higher than the quantity supplied.
• D) The people who bought the laptops at that price were those who valued laptops the most.

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Definitions:

Cleverly Altered

Describes something modified in a skillful or ingenious manner.

Check Deduction

A payroll or accounting action where a specific amount of money is subtracted directly from an employee's paycheck.

Bank Liability

The legal responsibilities and obligations a bank has towards its customers, such as ensuring the security of deposits and providing accurate account information.

Unauthorized Signatures

Signatures made without the express permission or authority of the person whose signature is required or expected.