Refer to the Graph Shown

question 93

Multiple Choice

Refer to the graph shown. Between points C and D, marginal utility is:

• A) decreasing, and so total utility is falling.
• B) positive, and so total utility is increasing.
• C) positive, and so total utility is falling.
• D) decreasing, and so total utility is at its maximum.

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Definitions:

General Journal

A bookkeeping journal where all types of financial transactions are initially recorded, before being transferred to specific accounts in the general ledger.

Closing Journal Entries

Entries made at the end of an accounting period to transfer balances from temporary to permanent accounts.

Revenue Journal

An accounting ledger that records all transactions involving the income earned by the business, specifically from its operations and activities.

Provided on Account

A transaction that occurs when goods or services are delivered with the understanding that payment will be made at a later date.