-Refer to the Graph Above to Answer This Question

question 145

Multiple Choice

-Refer to the graph above to answer this question.What would be the new equilibrium price and quantity if demand increased by 60?

• A)$1,600 and 120.
• B)$1,400 and 140.
• C)$1,200 and 160.
• D)$1,000 and 140.
• E)$1,000 and 180.

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Definitions:

Weighted Average Method

The weighted average method is an inventory costing approach that calculates the cost of goods sold and ending inventory based on the average cost of all items available for sale during the period.

Weighted Average Method

An inventory costing method that calculates the cost of goods sold and ending inventory based on the weighted average cost of all goods available for sale during the period.

Unit Costs

The amount of expenditure incurred to create a single unit of a product or service.

Cost Of Production Report

A document detailing the total cost associated with the production of goods over a specific period, including materials, labor, and overhead.