Answer:
Fewer; average total
Explanation:
"Firms in the monopolistically competitive movie industry face excess capacity. This means that there are <u>Fewer</u> movies than the output at which <u>average total</u> cost is minimized."
Monopolistically competitive market: Monopolistic competition are defined as situation in market, wherein many seller or firm offer similar kind of product in the market, however, products are not close subtitute. There is low barrier to entry in these market. The monopolistic competitive firm choose a level of output, which is below its minimum efficient scale.
Answer and Explanation:
The journal entry is given below:
Inventory (10% of $600,000) $60,000
To Accumulated Depletion $60,000
(Being the 10% of the total timber cutted be recorded)
Here the inventory is debited as it increased the assets and credited the accumulated depletion as it decreased the assets
Answer:
B. The City Hotel. It opened in 1792
Answer: 1443.5 gallons
Explanation:
Thw following can be gotten from the question:
Fuel tank capacity = 6800 gallon
Annual demand, A = 68000 gallons
Ordering cost, O= $50
Carrying cost, C = 40% × $2.04 = $0.816
EOQ = ✓2AO/✓C
= ✓(2×68000×50) / ✓0.816
= ✓6800000 / ✓0.816
= 2887
Average inventory = EOQ/2
= 2887/2
= 1443.5 gallons
Therefore, the average inventory will be 1443.5 gallons.