If the Supply and Demand Curves Intersect at a Price

question 144

Multiple Choice

If the supply and demand curves intersect at a price of $47,then any price above that would result in:

• A)a shortage.
• B)a surplus.
• C)equilibrium.
• D)an increase in demand.

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Definitions:

Functional Currency

The currency of the primary economic environment in which an entity operates, usually the local currency or the currency of the country where it primarily generates and expends cash.

Fair Value

The proceeds from selling an asset or the financial burden of a liability transfer in a civilized negotiation with market participants on the valuation date.

Functional Currency

The main currency used by a business or in an economy, often the domestic currency or the currency of the primary economic environment in which the entity operates.

Foreign Currency

Refers to currencies other than the domestic currency of a company, used in international trade and investment.