-Refer to the Above Figure

question 16

Multiple Choice

-Refer to the above figure. A surplus will exist when

• A) the price is between $0 and $6.
• B) the price equals $6.
• C) the price equals $10.
• D) quantity demanded equals 15.

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Definitions:

Liabilities

Financial obligations or debts that a company owes to others, which must be paid back in the future.

Profit Margin

Profit margin is a measure of profitability, calculated as net income divided by revenue, showing the percentage of each dollar of revenue that becomes profit.

Revenue

The total income generated by a company from its business activities, such as sales of goods or services, before any expenses are deducted.