-In the Above Figure, If the Price Is $8 Then

question 210

Multiple Choice

-In the above figure, if the price is $8 then there is a

• A) surplus of 100.
• B) surplus of 200.
• C) shortage of 100.
• D) shortage of 200.

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Definitions:

Depreciation Expenses

The systematic allocation of the cost of a tangible asset over its useful life.

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered but not yet paid for.

Accounts Payable

Liabilities of a firm that are due to be paid to creditors within a short period of time, usually within a year.

Net Income

The total revenue minus total expenses, indicating the profit made by a business over a period.