The following information was taken from the financial statements of Lea Corporation for December 31, Year 2 and Year 1: Year 2 total sales: $5,000,000 . Year 2 total assets: $450,000-beginning balance, $600,000- ending balance Year 1 total sales: $3,500,000 . Year 1 total assets: $565,000-beginning balance, $450,000- ending balance The ratio of sales to assets for Year 2 and Year 1 is a. Year 2, 9.52; Year 1, 6.90 b. Year 2, 11.12; Year 1, 6.90 c. Year 2, 9.52; Year 1, 7.80 d. None of these choices are correct

Which of the following best explains why a large company can undersell small retailers? a. large companies can offer workers lower wages because they provide more jobs. b. large companies can pay their employees less because they do unskilled jobs. c. large companies can negotiate better prices with wholesalers. d. large companies have fewer expenses associated with overhead.

Which statement best explains the relationship between points a and b? a. consumption reaches its highest point, and then supply begins to fall. b. inflation reaches its highest point, and then the economy begins to expand. c. production reaches its highest point, and then the economy begins to contract. d. unemployment reaches its highest point, and then inflation begins to decrease.

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.