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Figure 6-4 -Refer to Figure 6-4.Which of the Following Statements Is Not

question 133

Multiple Choice

Figure 6-4 Figure 6-4 -Refer to Figure 6-4.Which of the following statements is not correct? A) When the price is $10,quantity supplied equals quantity demanded. B) When the price is $6,there is a surplus of 8 units. C) When the price is $12,there is a surplus of 4 units. D) When the price is $16,quantity supplied exceeds quantity demanded by 12 units.
-Refer to Figure 6-4.Which of the following statements is not correct?

Definitions:

Necessary

Essential or required for a particular purpose, without which the objective cannot be achieved.

Ratification

The action of signing or giving formal consent to a treaty, contract, or agreement, making it officially valid.

Emancipation

The process by which a minor becomes legally recognized as an independent adult, free from parental control.

Disaffirm

The legal act of rejecting or nullifying a contract or agreement, often used in the context of contracts entered into by minors.

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