The Beginning and Ending Balances of Long-Term Debt for the Most

question 51

Multiple Choice

The beginning and ending balances of long-term debt for the most recent fiscal year are $43,850 and $27,000,respectively.During the year,cash payments for long-term debt amounted to $23,450.How much new long-term debt was issued during the year?

• A)$6,600
• B)$20,400
• C)$3,550
• D)$16,850
• E)None of the answer choices is correct.

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Definitions:

Marginal Social Benefit

The additional benefit to society from consuming one more unit of a good.

Marginal Cost

The financial outlay required to produce an additional product unit.

Socially Optimal

The socially optimal point is where the societal benefits of consuming a good or service equal the societal costs of producing it, leading to an efficient allocation of resources.

Marginal Benefit

The increase in utility or enjoyment an individual gets by consuming an additional unit of a good or service.