Suppose That King Kanuta from Demands That Each of His

question 13

Multiple Choice

Suppose that King Kanuta from demands that each of his subjects give him 3 coconuts for every coconut that they consume.The king puts all of the coconuts that he collects in a large pile and burns them.The supply of coconuts is given by S(p_s) = 100p_s, where p_s is the price received by suppliers.The demand for coconuts by the king's subjects is given by D(p_d) = 7,650 - 100p_d, where p_d is the price paid by consumers.In equilibrium, the price received by suppliers will be

• A)$153.
• B)$18.
• C)$27.
• D)$38.25.
• E)None of the above.

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Definitions:

Directing

The process by which managers, given their assigned level of responsibilities, run day-to-day operations.

Controlling

In management, it refers to the process of setting standards, measuring actual performance, and taking corrective action to ensure the achievement of an organization's objectives.

Budgeted Goals

Objectives set during the budgeting process that financial and operational plans aim to achieve within a specific time frame.

Cash Budget

A cash budget is a financial plan that estimates the cash inflows and outflows over a specific period, helping businesses manage their liquidity and financial stability.