Rent (dollars per month) 700
600
500
400
300
200
100
D
0
10 20 30 40 50 60 70 80 90 100
Quantity (thousands of apartments per month)
16)
a.
16) The diagram above illustrates the market for apartments in Victoria, British Columbia.
If the current rent is $300 per month, is there a shortage or surplus in the apartment
market and how much is the shortage or surplus?
b. What is the equilibrium rent and quantity of apartments?

True or false entrepreneurs try to meet the needs of the marketplace by supplying a service or product

In microeconomics, the point at which supply and demand meet is called the blank price

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?