Which of the Following Is NOT True About the Equilibrium

question 178

Multiple Choice

Which of the following is NOT true about the equilibrium price?

• A) the price where a change in quantity supplied occurs
• B) the price where the demand curve intersects the supply curve
• C) the price where quantity demanded equals quantity supplied
• D) the price where there is neither excess quantity demanded or excess quantity supplied

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Definitions:

Course of Performance

The conduct between contracting parties that establishes a pattern of behavior, which can influence the interpretation of their contract's terms and obligations.

Substantially Impaired

Significantly reduced in ability or function, often referring to a state of physical or mental incapacity that affects one's legal rights or responsibilities.

Risk Passes

A term used in sales and contract law signifying the point at which the risk of loss or damage to goods transfers from the seller to the buyer.

Destroyed Goods

Items or products that have been damaged to the point where they can no longer serve their intended purpose.