For each of the following decisions,identify if it applies to a financial accounting (FA)or a managerial accounting (MA)decision maker.Your answer should be either FA or MA.Include only one choice for each accounting decision.
Definitions:
Demand Curve
A graph displaying the relationship between the price of a good and the quantity demanded, typically showing that as the price decreases, the quantity demanded increases.
Cost Functions
Mathematical representations that describe how production costs change with changes in the level of output.
Monopolistic Competitors
Firms operating in a monopolistic competition market structure, offering products that are differentiated from those of rivals but not completely unique.
Economic Profits
Profits calculated as total revenues minus explicit and implicit costs, differing from accounting profits by taking into account opportunity costs.
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