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Alexxx [7]
3 years ago
12

What are the differences between the​ long-run equilibrium of a perfectly competitive firm and the​ long-run equilibrium of a mo

nopolistically competitive​ firm?
Unlike perfectly competitive firms, in the long run monopolistically competitive firms ______.
Business
1 answer:
Vadim26 [7]3 years ago
6 0

Answer:

Unlike perfectly competitive firms, in the long run monopolistically competitive firms face excess capacity or unused capacity. They produced at a higher cost which implies wastage of resources or under-utilization of resources.

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Who can cheer me up i have seizures
AlekseyPX

Answer:

I got a joke for you :)

Why do we tell actors to “break a leg?”

Because every play has a cast.

3 0
2 years ago
Read 2 more answers
Explicit and Implicit Costs) Amos McCoy is currently raising corn on his 100-acre farm and earning an accounting profit of $100
loris [4]

Answer:

No

Amos McCoy is earning an economic loss. His implicit cost ($200) is greater than his accounting profit ($100)

Explanation:

Economic profit it accounting profit less implicit cost.

Accounting profit is total revenue less total cost or explicit cost.

Implicit costs are opportunity costs.

Economic profit = $100 - $200 = $-100

Amos McCoy Is making an economic loss of $-100

I hope my answer helps you.

3 0
3 years ago
The equivalent units in beginning work in process inventory plus the equivalent units in ending work in process inventory equals
vivado [14]

Answer:

False

Explanation:

The formula for equivalent units units as follows:

Opening Work in Process + Equivalent units on which the work is done - Closing Work in process = Units Transferred

Therefore, ideally,

Opening work in process - Closing work in process = Units transferred - Equivalent units on which work is done.

As adding all the cost incurred during the period to opening inventory of work in process, we get the total cost for the period, thereafter, deducting the cost allocated to closing work in process we get the value of goods produced and transferred.

<u>Therefore, above statement is false.</u>

8 0
3 years ago
You have $100 in your lunch account and plan to spend $2.75 each school day. how many school days will it take to spend all of t
zloy xaker [14]
Divide $100/2.75= about 36 days as $2.75* x 36=$99
3 0
3 years ago
​Ronald, Ross, and Carol opened a partnership firm. Ronald has a capital of​ $77,000; Ross has a capital of​ $119,000; and Carol
gtnhenbr [62]

Answer:

A. Carol, Capital is debited for $4,500

Explanation:

The question says to determine amount to be included in the journal entry to record Ronald's withdrawal from the partnership

Assumption: Equal Profit- loss sharing is the agreement between the existing partners.

First premise: Ronald's Capital in the Partnership = $77,000

However, Ronald received a payment of $86,000 meaning that there is an excess of $86,000-$77,000= $9,000

Since the agreement is equal profit and loss sharing, it means each of Ross and Carol will contribute 1/2 of the $9,000.

The journal entry to record this transaction is as follows:

Particulars                                          Debit                     Credit

Carol Capital Account                      $4,500

Ross Capital Account                       $4,500

Ronald Capital Account                                                  $9,000

Being the equal contribution of excess amount paid to Ronald on exit from the partnership by Carol and Ross.

Based on the multiple choices, the correct answer is Carol, Capital is debited for $4,500

4 0
3 years ago
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