This made me me laugh :D ( C )
Answer: Option C
Explanation: Environmental circumstances refers to the threats and opportunities that arise from political and economical unstability. These are highly fluctuating factors and can affect the business highly.
In the given case, the business of Ben and Chris slowed down due to the economic breakdown in the country. These factors are inescapable and affect all the businesses in the economy.
Thus, from the above we can conclude that the correct option is C.
According to the historical cost principle, if an asset costs $50,000 when it was purchased, and the one who purchased it still owns the asset today, it will have a higher value than $50,000. If the interest rate is assumed to be 5% for 5 years, the asset will be recorded as $63,814.08.
Answer: Equilibrium price is $20 and equilibrium quantity is 4 units.
Explanation: Equilibrium is a situation of rest, a situation where demand for a good is equal to its supply. The price that balance demand and supply is known as the equilibrium price.
![Q_{xd} = 14 - \frac{1}{2} P_{x}\\Q_{xs} = \[tex]Q_{xd} = Q_{xs} 14 - \frac{1}{2} P_{x} = \frac{1}{4} P_{x} - 1 14 + 1 = \frac{1}{4} P_{x} + \frac{1}{2} P_{x} 15 = \frac{3}{4} P_{x} 20 = P_{x}](https://tex.z-dn.net/?f=Q_%7Bxd%7D%20%3D%2014%20-%20%5Cfrac%7B1%7D%7B2%7D%20P_%7Bx%7D%3C%2Fp%3E%5C%5C%3Cp%3EQ_%7Bxs%7D%20%3D%20%5C%5Btex%5DQ_%7Bxd%7D%20%3D%20Q_%7Bxs%7D%20%3C%2Fp%3E%20%3Cp%3E14%20-%20%5Cfrac%7B1%7D%7B2%7D%20P_%7Bx%7D%20%3D%20%20%20%5Cfrac%7B1%7D%7B4%7D%20P_%7Bx%7D%20%20-%201%3C%2Fp%3E%20%3Cp%3E14%20%2B%201%20%3D%20%5Cfrac%7B1%7D%7B4%7D%20P_%7Bx%7D%20%2B%20%5Cfrac%7B1%7D%7B2%7D%20P_%7Bx%7D%20%20%3C%2Fp%3E%20%3Cp%3E15%20%3D%20%5Cfrac%7B3%7D%7B4%7D%20P_%7Bx%7D%20%3C%2Fp%3E%20%3Cp%3E20%20%3D%20P_%7Bx%7D)
[/tex] = Equilibrium price
Equilibrium quantity is given by,
