The Change in Total Cost of Production That Results from a Change

question 86

Multiple Choice

The change in total cost of production that results from a change in the amount of a resource used is

• A)average resource cost
• B)marginal resource cost
• C)marginal product
• D)marginal revenue product
• E)average revenue product

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Definitions:

Consolidating Entries

Journal entries made in the process of combining the financial statements of multiple subsidiaries with those of a parent company.

Original Cost

The acquisition cost of an asset before adjusting for depreciation, amortization, or impairment costs.

Book Value

The net value of a company's assets minus its liabilities, essentially the company's total equity.

Amortization

The gradual repayment or write-off of an asset over a specified period, typically used for loans, mortgages, or intangible assets.