For the Supply Equation , Where X Is the Quantity

question 119

Multiple Choice

For the supply equation , where x is the quantity supplied in units of a thousand and p is the unit price in dollars, determine the price at which the supplier will make 2 units of the commodity available in the market. ​

• A) p = $4
• B) p = $88
• C) p = $90
• D) p = $44
• E) p = $50

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Definitions:

Direct Method

A financial accounting method that allocates service department costs directly to producing departments without intermediate allocations.

Sales Revenue

The overall sum of money made from selling products or services before deducting any costs.

Direct Method

A cash flow statement preparation approach that enumerates major classes of gross cash receipts and payments.

Beginning Balance

The amount of money or value available in an account at the start of a new financial period.