The Supply and Demand Schedules for Dozens of Roses Are

question 56

Multiple Choice

The supply and demand schedules for dozens of roses are given below:
TABLE 3-1
-Refer to Table 3-1.The equilibrium price for a dozen roses is

• A)$10.
• B)$20.
• C)$30.
• D)$40.
• E)$50.

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Definitions:

Scienter

Knowledge of wrongdoing or fraudulent intent in the violation of a law or regulation.

Odometer

A device used in vehicles to measure the distance traveled.

Commercial Impracticability

A doctrine that excuses the performance of a contract when an unforeseen event makes it excessively burdensome or difficult to carry out as agreed.

Fraudulent Misrepresentation

False statements made knowingly, without belief in their truth, or recklessly, with intent to deceive and induce another to enter into a contract.