Use the Table Below to Answer the Following Questions

question 161

Multiple Choice

Use the table below to answer the following questions.
Table 3.4.1

-In Table 3.4.1,the equilibrium price is

• A)$7 a unit.
• B)$5 a unit.
• C)$4 a unit.
• D)$3 a unit.
• E)$1 a unit.

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Definitions:

Damages

Compensation sought or awarded in a lawsuit for harm or injury caused by the wrongdoings of another party.

Breach of Contract

The violation of any agreed-upon terms or conditions in a contract, which may result in legal consequences for the offending party.

Cover

A remedy in sales law allowing a buyer to purchase replacement goods if the seller fails to make delivery.

Specific Performance

A legal remedy where a court orders the party breaching a contract to perform the contract's specific duties rather than paying monetary damages.