Consider the Efficiency of Various Market Structures and Complete the Following

question 108

Multiple Choice

Consider the efficiency of various market structures and complete the following sentence.The larger the minimum efficient scale of firms,ceteris paribus,the

• A)more likely we are to have a concentrated market and allocative inefficiency.
• B)less the tendency toward monopoly inefficiency.
• C)lower the advantages of large-scale production.
• D)greater the number of firms comprising an industry.
• E)more likely firms will display productive efficiency.

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Definitions:

General Ledger

A complete record of all financial transactions over the life of a company.

Accounting Information System

A system designed to collect, store, manage, process, retrieve, and report financial data for business operations.

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, summarizing all transactions over a period.

Cash Receipts Journal

A dedicated accounting journal used to record all cash inflows or receipts of a business.