If 100,000 Units Are Started into Production and 40,000 Units

question 25

Multiple Choice

If 100,000 units are started into production and 40,000 units are in process at the end of the period, how many units were completed and transferred out?

• A) 100,000.
• B) 40,000.
• C) 60,000.
• D) 140,000.

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Definitions:

Collusive Behavior

Actions among firms to limit competition, set prices, or otherwise interfere with free market operations, often illegally or in secret.

Cartel

An association of independent businesses organized to regulate production, pricing, and marketing of goods by the members to monopolize a market.

Economic Efficiency

A state where resources are allocated in a manner that maximizes the production of goods and services without wasting any resources.

Economies of Scale

Financial advantages gained by firms due to their operational size, where a greater volume of production usually correlates with a lower cost for each output unit.