(Table) According to the Data in the Table, What Happens

question 158

Multiple Choice

(Table) According to the data in the table, what happens if quantity supplied rises by 4 units at each and every price? $$\begin{array} { c c c } \text { Price } & \begin{array} { c } \text { Quantity } \\\text { Demanded }\end{array} & \begin{array} { c } \text { Quantity } \\\text { Supplied }\end{array} \\\$ 10 & 18 & 6 \\\$ 20 & 16 & 8 \\\$ 30 & 14 & 10 \\\$ 40 & 12 & 12 \\\$ 50 & 10 & 14 \\\$ 60 & 8 & 16\end{array}$$

• A) The equilibrium price drops to $30 and the equilibrium quantity rises to 14 units.
• B) The equilibrium price drops to $30 and the equilibrium quantity falls to 10 units.
• C) The equilibrium price rises to $60 and the equilibrium quantity rises to 16 units.
• D) The equilibrium price drops to $6, and the equilibrium quantity falls to 10 units.

---

Definitions:

Adjustment

A modification or change made to financial records or statements to correct an error or reflect more accurately the financial position.

Accrued Revenues

Revenues that have been earned by providing goods or services but have not yet been received or recorded in the accounting records.

Unearned Revenues

Money received by a company for services or products yet to be delivered or performed, considered a liability until the service or product is delivered.

Accrued Expenses

Expenses that have been incurred but not yet paid or recorded in the company's books.