In the Week Before Hurricane Katrina, the Price of Flashlights

question 85

Multiple Choice

In the week before Hurricane Katrina, the price of flashlights rose in New Orleans because of:

• A) an increase in supply.
• B) an increase in demand.
• C) a decrease in supply.
• D) a decrease in demand.

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Definitions:

Resale

The act of selling an asset or item that was previously purchased, often occurring in secondary markets or through distributor networks.

Breaches

Incidents where laws, contracts, or promises are violated, leading to legal consequences.

Compensatory Damages

Financial reparations awarded to a plaintiff to compensate for loss, injury, or harm suffered due to the defendant's actions.

Breaching Party

The entity or individual that fails to fulfill their contractual obligations, thereby violating the contract.