When Both Curves Shift

question 108

Multiple Choice

When both curves shift

• A) equilibrium price is always indeterminate.
• B) equilibrium quantity is always indeterminate.
• C) equilibrium price and equilibrium quantity are indeterminate.
• D) equilibrium price or equilibrium quantity is indeterminate,but we can't predict which one.
• E) neither equilibrium price nor equilibrium quantity is indeterminate.

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Definitions:

Indirect Method

An approach used in cash flow statements where net income is adjusted for changes in non-cash working capital and other items to arrive at net cash flow from operating activities.

Fixed Assets

Fixed assets are long-term tangible assets that a company owns and uses in its operations to generate income, such as buildings, machinery, and equipment.

Percentage-Of-Completion Method

An accounting method used to recognize revenues and expenses of long-term projects proportionate to the work completed during the period.

Contract Costs

Expenses directly related to securing and executing a contract, including labor, materials, and overheads.