The Following Data Shows the Market for Soccer Balls

question 30

Multiple Choice

The following data shows the market for soccer balls:

-Refer to the above information to answer this question.Assume that initially the market is in equilibrium,and the demand increases by 10 units while the supply increases by 40 units.What will be the new equilibrium price and quantity?

• A)$10 and 110.
• B)$30 and 100.
• C)$40 and 120.
• D)$50 and 50.
• E)$60 and 110.

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Definitions:

Parent Entity

A company that has control over one or more subsidiaries, owing enough of their stock to influence their operations.

AASB 10

An Australian Accounting Standards Board standard that sets out the principles for the presentation and preparation of consolidated financial statements when an entity controls one or more other entities.

Consolidated Financial Statements

Financial statements that combine the financial information of a parent company and its subsidiaries into one document.

Non-controlling Interest

A minority ownership in a subsidiary that is not large enough to exert control over the company, reflected within the equity section of the consolidated financial statements.