_____,Or Reductions in Unit Costs as Plant Output Expands,are Achieved

question 34

Multiple Choice

_____,or reductions in unit costs as plant output expands,are achieved because of greater utilization of capital equipment and the productivity gains that come with specialization of employees within the plant.

• A)Minimum efficient scale
• B)Production cost curve
• C)Maximum efficient scale
• D)Economies of scale

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Definitions:

Withdrawals

Money taken out from a business by its owner(s) for personal use, reducing the owner's equity in the business.

Assets

Economic resources owned by a business or individual that are expected to benefit future operations.

Expenses

Financial outlays or obligations incurred by a company as part of its operational activities, leading to a reduction in owners' equity.

Compound Entry

An accounting entry that involves more than two accounts, where there are multiple debits and/or credits in a single transaction.