Hybrid- Costing Systems Use a Combination Of

question 21

Multiple Choice

Hybrid- costing systems use a combination of:

• A) job- order costing and process costing ideas
• B) fixed and variable costs
• C) value- added and nonvalue- added costs
• D) direct and indirect costs

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Definitions:

Emissions Tax

A tax imposed on the emission of pollutants, aimed at reducing the environmental externality costs of these emissions.

Optimal Tax

A tax designed to generate government revenue with the minimum economic distortion or welfare loss.

Marginal Social Cost

The total cost to society of producing an additional unit of a good or service, including both the cost to the producer and the cost of any negative externalities associated with production.

Marginal Social Benefit

Marginal social benefit is the additional gain to society as a whole from producing one more unit of a good or service.