Figure 10-19 -Refer to Figure 10-19. Which of the Following Decreases as Following

question 428

Multiple Choice

Figure 10-19
-Refer to Figure 10-19. Which of the following decreases as the quantity of the good is increased?

• A)the private cost of the good
• B)the social cost of the good
• C)the private value of the good
• D)the external benefit of the good

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Definitions:

Accounts Payable

Liabilities of a company or individual that are due to creditors within a short period of time, typically for purchases of goods or services.

Cash

Represents money in coins, currency, or bank balances that is readily available for use.

Supplies Expense

The cost associated with consumable items used during the business operations and not directly tied to the production of goods or services.

Fees Earned

Income earned from providing services or performing work, recognized in the accounting period when the services are rendered.