Examlex
Which of the following applies to the use of money as a unit of account?
I. A unit of account is an agreed measure for stating the prices of goods and services.
II. Using money as a unit of account creates a simplified pricing system.
III. Economies choose many goods as units of account.
Market Price
The current price at which an asset or service can be bought or sold.
Average Costs
The cost per unit is found by dividing the overall production cost by the quantity of units produced.
Market Price
The current price at which an asset or service can be bought or sold in the market.
Marginal Cost
The increase in total production costs resulting from the production of one additional unit of a product or service.
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