In the Short Run, Which Are Most Important in Determining

question 27

Multiple Choice

In the short run, which are most important in determining changes in output?

• A)marginal costs and revenue 
• B)total costs and revenue 
• C)average costs and revenue 
• D)fixed costs

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Definitions:

Journal Entry

A record that represents the business transactions in the accounting books, involving at least one debit and one credit.

Stocks And Bonds

Financial instruments representing ownership in a company (stocks) or a debt agreement (bonds) from an issuer to the holder.

Journal Entry

A record in accounting that reflects a business transaction, listing the accounts and amounts to be debited and credited.

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.