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If Total Surplus Equals $45,000 at the Equilibrium Price, Then

question 75

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If total surplus equals $45,000 at the equilibrium price, then total surplus will rise if the price falls below its equilibrium.


Definitions:

Average Payables Period

A financial metric that calculates the average number of days it takes a company to pay its vendors and suppliers.

Account Payables

Accounts payable refers to short-term financial obligations or debts a company owes to its suppliers or creditors for goods and services received.

Annual Cost

The total expenses incurred by a company or individual in one year.

Market/Book Ratio

A financial ratio comparing a company's market value to its book value, indicating how highly the market values the company.

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