The following figure shows the demand and supply curves for USB flash drives at different price levels. D is the demand curve, and S₁ is the initial supply curve.
-Refer to the figure above.If the supply curve for flash drives shifts from S₁ to S₂,with no change in the demand curve,the new competitive equilibrium price is ________.
Definitions:
Issuing Stock
The process of offering new shares of a company's stock to investors.
Stated Value
A nominal value assigned to a share of stock by the company's board of directors, which is not related to the market value of the stock.
Accounting Purposes
The specific reasons or objectives for maintaining and processing financial records, including compliance, reporting, and decision-making needs.
Par Value
Par value is the nominal or face value of a bond, share of stock, or coupon as stated by the issuing party, often used in determining its redemption or constituent stock value.
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