-Refer to the Above Table

question 21

Multiple Choice

-Refer to the above table. Suppose the demand for smartphones rises because more people use the Internet with a smartphone. The new equilibrium price will be

• A)$200.
• B)$275.
• C)more than $275.
• D)impossible to be determined given the information.

---

Definitions:

Risk Reduction

Strategies or actions taken to decrease or mitigate the impact of uncertainties on business objectives or investment outcomes.

Balance Sheet

A financial statement at a given point in time that shows assets on one side and liabilities and net worth on the other side; because assets must equal liabilities plus net worth, the two sides of the statement must be in balance.

Net Worth

The total assets minus total external liabilities of an individual or a company, indicating their overall financial position.

Liabilities

Financial obligations or debts owed by a company or individual to others, which must be settled over time through the transfer of economic benefits.