The Price That Results When Quantity Demanded Is Just Equal

question 32

Multiple Choice

The price that results when quantity demanded is just equal to quantity supplied is known as:

• A) nonsurplus price.
• B) equitable price.
• C) stable price.
• D) equilibrium price.

---

Definitions:

Disaffirm

To reject or deny the validity of; often used in legal contexts where a party may disaffirm a contract.

Ratified

The process in which an agreement, treaty, or contract has been officially confirmed or sanctioned, making it legally binding.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing laws across state boundaries.

Disaffirm

The legal act of rejecting or voiding a contract or agreement, particularly used in the context of minors who wish to void contracts entered into before reaching the age of majority.