Except for the Very Last Unit of a Good Sold,the

question 93

Multiple Choice

Except for the very last unit of a good sold,the price paid by consumers of that good for an additional unit is

• A)less than the marginal social benefit from that unit.
• B)more than the marginal social benefit from that unit.
• C)less than the marginal social cost of producing that unit.
• D)less than the opportunity cost of producing that unit.
• E)equal to consumer surplus.

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Definitions:

Cerebrovascular Accident

A stroke; caused by a hemorrhage in the brain or more often by a clot lodged in a cerebral artery.

Petty Cash Fund

A small amount of cash kept on hand to pay for minor expenses, such as office supplies or reimbursements.

Journal Entries

Documentation of financial transactions in a journal, showing the accounts and amounts debited and credited.

Vouchers

Documents serving as evidence for transactions, such as payments or receipts, and authorize the related accounting entries.