If the representative firm in a purely competitive industry is in short-run equilibrium and, at its current output level, its marginal cost exceeds its average total cost, then we can conclude thata. the firm is suffering economic losses b. the firm is not maximizing profits in the short runc. some firms will exit the industry in long run d. other firms will enter the industry in the long run

Wilmington company has two manufacturing departments--assembly and fabrication. it considers all of its manufacturing overhead costs to be fixed costs. the first set of data that is shown below is based on estimates from the beginning of the year. the second set of data relates to one particular job completed during the year--job bravo. estimated data assembly fabrication total manufacturing overhead costs $ 6,720,000 $ 7,280,000 $ 14,000,000 direct labor-hours 140,000 84,000 224,000 machine-hours 56,000 280,000 336,000 job bravo assembly fabrication total direct labor-hours 29 21 50 machine-hours 21 24 45 required: 1. if wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied to job bravo