The Average Total Cost Curve Eventually Slopes Upwards Because of the

question 33

Multiple Choice

The average total cost curve eventually slopes upwards because of the

• A) law of diminishing returns.
• B) reductions in average fixed costs.
• C) increase in capital costs.
• D) decrease in labor costs.

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Definitions:

Posting References

Notations that make the connection between journal entries and the ledgers to which they are posted.

Purchases Journal

A special accounting journal used to record all purchases of merchandise, supplies, or other items on credit.

Cash Payments Journal

A bookkeeping ledger in which cash payments are recorded, showing outflows of cash.

Office Supplies

Items used in an office for daily operations, including stationary, paper, and other consumables.