If the Supply and Demand Curves Intersect at $47, Then

question 196

Multiple Choice

If the supply and demand curves intersect at $47, then any price above that would result in:

• A)a shortage.
• B)a surplus.
• C)equilibrium.
• D)an increase in demand.

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Definitions:

Variance

The difference between planned or expected outcomes and the actual outcomes in finance and accounting.

Cost Drivers

Factors that cause a change in the cost of an activity, used in activity-based costing to allocate costs accurately.

Revenue Variances

The difference between actual revenue and budgeted or projected revenue.

Spending Variances

The difference between actual spending and budgeted or planned spending in various categories.