The Benefit to Some Consumer of the Last Unit of a Good

question 78

Multiple Choice

The benefit to some consumer of the last unit of a good consumed is

• A)represented by the height of the supply curve at that quantity
• B)negative if the producer is suffering economic loss
• C)decreases at an increasing rate in a competitive product market
• D)is zero
• E)represented by the height of the demand curve at that quantity

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Definitions:

Normal Balance

The side (debit or credit) of an account that is typically increased. For asset accounts, it is a debit balance; for liability and equity accounts, it is a credit balance.

Two-column Journal

An accounting ledger that features two columns, typically used for recording debits in one column and credits in the other, to maintain financial transactions.

Equipment Purchase

The acquisition of physical assets like machinery, tools and vehicles needed for the operation of a business.

Fees Earned

Fees earned refer to income gained from providing services, representing the completion of service transactions over a period of time.