Based on the Table Below,at What World Price Would the Country

question 167

Multiple Choice

Based on the table below,at what world price would the country export?
$$\begin{array} { | l | l | l | } \hline \text { Price } & \text { QDemanded } & \text { QSupplied } \\\hline 2 & 100 & 70 \\\hline 4 & 95 & 75 \\\hline 6 & 90 & 80 \\\hline 8 & 85 & 85 \\\hline 10 & 80 & 90 \\\hline 12 & 75 & 95 \\\hline\end{array}$$

• A) all prices above $8
• B) at only $8
• C) all prices below $8
• D) it is impossible to say

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Definitions:

Owner's Equity

Owner's equity represents the owner's stakes or claims against the assets of a business, equal to the total assets minus total liabilities.

Liabilities

Financial obligations or debts that a business or individual owes to others, which are expected to be settled over time through the transfer of economic benefits like cash or goods.

Assets

Resources owned or controlled by a business that are expected to benefit future operations.

Accounting Equation

The foundational equation in accounting, Assets = Liabilities + Owner's Equity, showing the relationship between a company's assets, liabilities, and equity.