Refer to the Information Provided in Table 3 -Refer to Table 3

question 300

Multiple Choice

Refer to the information provided in Table 3.2 below to answer the question(s) that follow.
Table 3.2
$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Price per } \\\text { Cheeseburger }\end{array} & \begin{array} { c } \text { Quantity Demanded } \\\text { (Cheeseburgers per } \\\text { Month) }\end{array} & \begin{array} { c } \text { Quantity Supplied } \\\text { (Cheeseburgers per } \\\text { Month) }\end{array} \\\hline \$ 5 & 1,500 & 500 \\\hline 6 & 1,200 & 700 \\\hline 7 & 900 & 900 \\\hline 8 & 600 & 1,100 \\\hline 9 & 300 & 1,300 \\\hline\end{array}$$
-Refer to Table 3.2. If the price per cheeseburger is $6, the price will

• A) remain constant because the market is in equilibrium.
• B) decrease because there is an excess demand in the market.
• C) increase because there is an excess demand in the market.
• D) decrease because there is an excess supply in the market.

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Definitions:

SEC

The United States Securities and Exchange Commission is a federal entity tasked with the enforcement of federal securities legislation and the oversight of the securities sector.

Accounting Irregularities

Deviations from standard accounting practices, often indicating error or fraud, which can lead to misstated financial reports.

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Bill and Hold

A sales arrangement where goods are invoiced and recognized as sold, but delivery is delayed at the buyer's request.