Under What Situation Are 'Units Started' Equal to 'Units Completed

question 24

Multiple Choice

Under what situation are 'units started' equal to 'units completed' in production?

• A)when beginning Work in Process equals ending Work in Process
• B)when physical units equals equivalent units
• C)when beginning Work in Process equals zero and units started in production equals the total of ending Work in Process and units transferred out
• D)when beginning inventory equals zero

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Definitions:

Aggregate Demand

The complete need for products and services in a specific market area.

Aggregate-Demand Curve

An illustrative chart that demonstrates how the general price level within the economy correlates with the total demand for goods and services at that level.

Short Run

A time period in economics during which at least one input is fixed, typically considered to be within a few months to a year.

Aggregate Supply

The total supply of goods and services that firms in an economy are willing and able to sell at different price levels.