Refer to the Above Diagram, in Which S₁ and D₁

question 250

Multiple Choice

Refer to the above diagram, in which S₁ and D₁ represent the original supply and demand curves and S₂ and D₂ the new curves.In this market:

• A)supply has decreased and equilibrium price has increased.
• B)demand and Supply have increased and equilibrium price has decreased.
• C)demand has decreased and equilibrium price has decreased.
• D)demand has increased and equilibrium price has increased.

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Definitions:

Held For Sale

A classification for assets on the balance sheet intended to be sold within a short period, usually one year.

Discontinued Operations

Components of a business that have been sold or otherwise disposed of, and which are reported separately in the financial statements to give a clear view of ongoing operations.

Disposal Group

A set of assets and possibly liabilities that a company plans to dispose of in a single transaction or plan.

IFRS Rules

The set of international accounting standards issued by the International Accounting Standards Board (IASB) that dictate how particular types of transactions and other events should be reported in financial statements.