Suppose that the pen-making industry is perfectly competitive. also suppose that each current firm and any potential firms that might enter the industry all have identical cost curves, with minimum atc = $1.25 per pen. if the market equilibrium price of pens is currently $1.50, what would you expect it to be in the long run?

Job a3b was ordered by a customer on september 25. during the month of september, jaycee corporation requisitioned $2,400 of direct materials and used $3,900 of direct labor. the job was not finished by the end of the month, but needed an additional $2,900 of direct materials in october and additional direct labor of $6,400 to finish the job. the company applies overhead at the end of each month at a rate of 100% of the direct labor cost. what is the amount of job costs added to work in process inventory during october?

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach

Alarge tank is filled to capacity with 500 gallons of pure water. brine containing 2 pounds of salt per gallon is pumped into the tank at a rate of 5 gal/min. the well-mixed solution is pumped out at the same rate. find the number a(t) of pounds of salt in the tank at time t.