Exhibit 5-3 Use the Following Information About Demand and Supply

question 23

Multiple Choice

Exhibit 5-3 Use the following information about demand and supply schedules to answer the question.
Refer to Exhibit 5-3.If D₂ and S₁ represent the demand and supply schedules in a particular market,the equilibrium price and quantity are ____ and ____,respectively.

• A) $12; 10
• B) $12; 9
• C) $10; 17
• D) $8; 15

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Definitions:

Operating Fund

A pool of resources designated for the ongoing operational expenses of an organization.

Deferral Method

An accounting practice where revenue or expenses are recorded in a period different from when they are actually earned or incurred.

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