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almond37 [142]
3 years ago
13

The long-run supply curve for a product is horizontal with ATC = 200. Market demand is defined as P = 1,000 − 4 Q. The market is

competitive and is in long-run equilibrium with 50 firms in the industry. If demand increases to P = 1,240 − 4 Q, how many firms will be in the industry at the new long-run equilibrium?
Business
1 answer:
ANTONII [103]3 years ago
3 0

Answer:

65 firms will be in the industry at the new long run equilibrium

Explanation:

in the long run the P=ATC

quantity before the change is

200 = 1000-4Q

4Q = 800

Q= 200

each firm output = Q/number of firms = 200 / 50

q = 4

new quantity is

200 = 1240-4Q

4Q = 1040

Q = 260

number of firms=new Q/q

=260/4 = 65

the number of firms is 65 in the long run.

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Explanation:

Accrued Interest on notes Payable

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Interest Calculation

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Journal Entry

Dr Interest expense  $341.67

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Current Liabilities

Ozark Sales current liabilities include Purchased equipment inventory, Accrued Interest expense incurred on the Notes Payable and the Notes Payable amount. Ozark Sales Made a Payment of $125100, this payment was made to settle some of the total current liabilities.

The total Current Liabilities (The Balance) on 31 December 2018 will include all transactions mentioned about and the payment of $125100 will be subtracted. The Balance will the amount that will be reflected in the Balance sheet for Current Assets

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Total Amount of Current Liabilities = $177 000 + $20500 + $341.67 - $125100

Total Amount of Current Liabilities = $72741.67

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