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Use the following to answer questions:
Figure: Monopoly 6
-(Figure: Monopoly 6) If the market in this figure is a monopoly, the consumer surplus is area ______, and the deadweight loss is area ______.
Equivalent Unit
A measure used in cost accounting to express the amount of work done on incomplete products in terms of completed products.
Weighted-Average Method
A cost accounting method that assigns the average cost of goods available for sale to both ending inventory and units sold.
Assembly Department
A department within a manufacturing facility where components are assembled into finished products.
Materials
The raw items or components used in the manufacturing process to produce goods or services.
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