Suppose That the Demand Curve for a Good Is Given

question 34

Multiple Choice

Suppose that the demand curve for a good is given by Q_D = 80 - P_D,while the supply curve for the good is given by Q_S = 3P_S.The equilibrium quantity is ______ and the equilibrium price is _____.

• A) 60;20
• B) 20;60
• C) 20;20
• D) 60;60
• E) 30;80

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Definitions:

Identifiable Net Assets Method

An accounting technique used in business combinations, where only the acquirer's identifiable assets and liabilities are recorded at fair value.

ASPE

A collection of accounting principles for private firms in Canada known as Accounting Standards for Private Enterprises.

IFRS

International Financial Reporting Standards, a set of global accounting standards developed by the International Accounting Standards Board to ensure transparency, accountability, and efficiency in financial markets worldwide.

Telecommunications Act

Legislation that regulates the telecommunications industry, influencing the development, provision, and accessibility of telecommunications services.