Answer:
the answer is a
let me know if this helps
Answer:
Option A:
<em>Large</em> Marginal costs; less <em>firms in the industry</em>
Explanation:
Monopolistic competitions are market models which are charaterized by low barriers to entry. High marginal costs will discourage firms from entering the industry, thereby leading to a reduced number of firms operating there in the long run.
Since the marginal costs reduce profit, if this continues to rise, most firms will discover that it is difficult to make profit in such an industry. They will definitely leave industry for a different one.
This makes Option C the answer.
Answer:
Rent expenbse 4,650 debit
Miscellaneous expense 4,650 credit
--to reverse the mistaken entry--
Rent expense 4,650 debit
Cash 4,650 credit
--to record the correct entry--
Account Pyable 3,700 debit
Accounts Receivables 3,700 credit
--to ammend mistaken entry--
Explanation:
We have two approachs to solve for accoutning mistakes, the first is to reverse the incorrect entry and then record the entry in a proper manner.
(like on A)
The second method is to do adjustment to fix it like on b
the mistake was to use accounts payable therefore, we write-off that and credit the correct account which is accoutns receivables
