Table 4-1 -Refer to the Table 4-1

question 179

Multiple Choice

Table 4-1
$$\begin{array} { l | l | l } \hline \text { PRICE } & \text { QUANTITY DEMANDED } & \text { QUANTITY SUPPLIED } \\\hline \$ 10 & 10 & 60 \\\hline \$ 8 & 20 & 45 \\\hline \$ 6 & 30 & 30 \\\hline \$ 4 & 40 & 15 \\\hline \$ 2 & 50 & 0\end{array}$$
-Refer to the Table 4-1.If the price were $8,what would happen?

• A)A surplus of 50 units would exist and the price would tend to fall.
• B)A surplus of 10 units would exist and the price would tend to fall.
• C)A surplus of 25 units would exist and the price would tend to fall.
• D)A shortage of 25 units would exist and the price would tend to rise.

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Definitions:

Foreseeable Harm

Damage or injury that a reasonable person should be able to predict or anticipate as a likely result of their actions or omissions in a given set of circumstances.

Gratuitous Bailment

A bailment relationship where the bailee agrees to hold goods without receiving any form of payment, purely out of goodwill.

Bailee

A bailee is a person or party who has been entrusted with the temporary possession of goods or property belonging to another (the bailor) without transfer of ownership.

Transfer of Securities

The act of moving ownership of stocks, bonds, or other securities from one party to another.