The Following Equations Represent the Demand and Supply for Silver

question 129

Multiple Choice

The following equations represent the demand and supply for silver pendants. Q_D = 50 - 2P
Q_S = -10 + 2P
What is the equilibrium price (P) and quantity (Q - in thousands) of pendants?

• A) P = $15; Q = 20 thousand
• B) P = $50; Q = 10 thousand
• C) P = $20; Q = 15 thousand
• D) P = $10; Q = 30 thousand

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Definitions:

Directly Attributable Costs

Costs that can be directly linked to a specific asset, activity, or project, and thereby included in its cost base.

Assumes Liabilities

The process by which one party takes on the legal responsibility for the debts or obligations of another party.

Fair Values

The market value of selling an asset or the outlay for a liability transfer in a negotiated agreement among trading participants at the time of estimation.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of the identifiable net assets of the acquired business.