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3 years ago

If supply and demand both increase then equilibrium price will also increase. True or False

Business

1 answer:

lukranit [14]3 years ago

6 0

Answer:

This statement is false.

Explanation:

The change in the equilibrium price due to a change in in an increase in both demand and supply cannot be predicted without knowing the magnitude of the increase.

If the proportionate increase in the demand is greater than the increase in supply, the equilibrium price will increase.

If the proportionate increase in the supply is greater than the increase in demand, the equilibrium price will decrease.

If the increase in demand is proportionately equal to the increase in supply, the equilibrium price will remain the same.

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Answer:

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3 years ago

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Ostrovityanka [42]

Answer:

The Journal entries are as follows:

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To cash A/c $5,104,000

(To record the construction costs)

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To billings A/c $2,980,000

(To record the progress billings)

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(To record the revenues)

Workings:

Revenues :

= (Cost incurred to date ÷ Expected costs to complete) × Contract value

= ($5,104,000 ÷ $8,800,000) × $11,800,000

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4 years ago

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posledela

Answer:

Explanation:

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Payment for development work 13,000

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3 years ago