Assume That Aline,Bentley,Calvin,and Daniel Are the Only Sellers in This

question 58

Multiple Choice

Assume that Aline,Bentley,Calvin,and Daniel are the only sellers in this market.
-Refer to Exhibit 3-12.Fill in blanks (A) and (B) respectively with the market quantity supplied at each given price.

• A) 12.25; 14.75
• B) 49; 59
• C) 48; 61
• D) 8.00; 8.71
• E) none of the above

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Definitions:

Treasury Stock

Shares of a company's own stock that it has reacquired from shareholders and holds in its own treasury.

Cost Method

An accounting method in which investments are recorded at their original purchase cost, without recognizing changes in market value.

Par Value

The nominal or face value of a bond, share of stock, or coupon as indicated on a certificate or instrument.

Par Value

The nominal or face value of a bond, stock, or coupon as stated by the issuer, which is typically not indicative of its market value.