Answer:
Correct answer is (C) The price and output of plumbing services will rise
Explanation:
In a monopolistic market if the service or commodity is initially in long-run equilibrium, and then there is an increase in demand, then, there will increase in price in a short run as people demands more and the provider of the service or the producer of the goods will tend to provide or produce more.
Answer:
Date Account and Explanation Debit Credit
Bonds payable $476,000
Loss on bond redemption $7,140
(461,720 - 454,580)
Cash $461,720
(476,000 * 0.97)
Discount on bonds payable $21,420
(476,000 - 454,580)
<em>(To record redemption of the bonds)</em>
This question is incomplete and I've read and answered the complete question and its ask to determine Mandy's gain or loss if she later sells the stock for $2.3 million.
In definition, a fair market value is the selling price of the item of which buyer and seller can agree, with that, if Mandy sold it for 2.3 million, the possible profit of it would be $100,000
I did some research and found out it is the law of increasing costs
:)
