Use the Following to Answer the Questions Below

question 28

Multiple Choice

Use the following to answer the questions below:
In each of the following multiple-choice questions, characterize EACH of the three given statements as being TRUE or FALSE and then indicate the collective true-false status of the statements using the choices:
-Statements: (1) A carboxylic acid and its corresponding carboxylate ion differ in the number of oxygen atoms they contain.
(2) In ester hydrolysis, the carbon-oxygen double bond breaks, producing an alcohol and a carboxylic acid.
(3) The acronym PET stands for polyester(terephthalate) .

• A) All three statements are true.
• B) Two of the three statements are true.
• C) Only one of the statements is true.
• D) None of the statements is true.

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Definitions:

Supply and Demand

Refers to the economic model that determines the price of goods and services based on sellers' supply and buyers' demand.

Excess Demand

A market condition where the quantity demanded of a good or service exceeds its quantity supplied at a given price.

Equilibrium Price

The cost in the market at which the supply and demand for goods are balanced.

Invisible Hand Principle

An economic theory proposed by Adam Smith, suggesting that individuals' pursuit of self-interest in free markets leads to economic prosperity and efficiency as if guided by an invisible hand.