For the Cost Function C = 100

question 18

Multiple Choice

For the cost function C = 100 + .3q,

• A)marginal cost is constant.
• B)average cost is U-shaped.
• C)fixed costs diminish with q.
• D)all of the other answers are correct.

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Definitions:

Net Income

A company's overall earnings once expenses and taxes are removed from its revenue.

Ending Inventory

The complete value of commodities being offered for sale upon the closing of a financial period.

Adjustment Credit Column

The Adjustment Credit Column is a section in accounting ledgers or spreadsheets where adjustments, such as credit transactions, are recorded to rectify account balances.

Worksheet

A document or tool used by accountants to plan adjustments and prepare financial statements before they are posted to ledgers.