The rest of it will be: price equals marginal cost. But this indeed is not true. The most accepted idea is that for a monopolistically competitive firm the average revenue and price are the same quantity. Now, when a monopolistically competitive firm is in long-run equilibrium, then the marginal revenue is equal to marginal cost.
Answer:
hope this helps
Explanation:
A black hole is a place in space where gravity pulls so much that even light can not get out.
Answer:
Equivalent unit of conversion = Unit completed and transferred out+Ending WIP*Percent completion
= 15000+(3000*75%)
Equivalent unit of conversion = 17250
Total cost of conversion cost = 4500+32450+18710 = 55660
Cost per equivalent unit of conversion Cost = Total Cost/Equivalent unit = 55660/17250 = 3.23
