The Following Are the Equations for the Supply and Demand

question 166

Multiple Choice

The following are the equations for the supply and demand curves in the market for weezils:
where Q _d is the quantity demanded, Q _s is the quantity supplied, and P is the price per weezil in dollars. Refer to Exhibit 4-1. According to the data given, the equilibrium price of a weezil is

• A) $3.
• B) $5.
• C) $11.
• D) $14.

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Definitions:

Net Income

The total earnings or profit of a company after subtracting all expenses, taxes, and costs, also known as net earnings.

Goodwill

The price paid for an asset in excess of its book value. You will see this on the balance sheet when the company has made one or more large acquisitions.

Intangible Assets

Non-physical assets owned by a business, such as intellectual property, brand names, and customer relationships, which add value to the company.

Book Value

The net value of a company's assets expressed on its balance sheet, equal to its total assets minus liabilities, preferred stock, and intangible assets.