The Demand Curve Is Also the

question 364

Multiple Choice

The demand curve is also the

• A) total cost curve.
• B) total benefit curve.
• C) marginal cost curve.
• D) marginal benefit curve.
• E) marginal deadweight cost curve.

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Definitions:

Variable Costing

A costing method that includes only variable manufacturing costs — direct materials, direct labor, and variable manufacturing overhead — in the cost of a product.

Unit Product Cost

The total cost incurred to produce, package, and place a product ready for sale, divided by the number of units produced.

Absorption Costing

An accounting method that includes all manufacturing costs—direct materials, direct labor, and both variable and fixed overhead—in the cost of a product.

Unit Product Cost

The calculation of the total cost (including materials, labor, and overhead) to produce a single unit of a product.