Total Surplus Can Be Increased If

question 70

Multiple Choice

Total surplus can be increased if:

• A)new markets are created.
• B)existing markets are improved.
• C)markets get closer to equilibrium.
• D)All of these can increase total surplus.

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Definitions:

Accounting Description

A detailed account or explanation of the nature, features, and implications of an accounting entry or policy.

Economic Activities

Actions that involve the production, distribution, and consumption of goods and services within an economy.

Forensic Accounting

The practice of using accounting skills to investigate fraud or embezzlement and to analyze financial information for use in legal proceedings.

Managerial Accounting

The field of accounting focused on providing financial and nonfinancial information to help managers make decisions to fulfill the objectives of an organization.