Which of the following is true of a profit-maximizing perfectly competitive firm in the short run?

(a) the firm produces at the point where price is equal to marginal cost.
(b) the firm produces at the point where average cost is at its minimum point.
(c) the demand curve faced by each firm in the industry is downward sloping.
(d) the firm always makes a zero economic profit.
(e) the firm suffers a deadweight loss.

Fanning books buys books and magazines directly from publishers and distributes them to grocery stores. the wholesaler expects to purchase the following inventory: april may june required purchases (on account) $ 111,000 $ 131,000 $ 143,000 fanning books accountant prepared the following schedule of cash payments for inventory purchases. fanning books suppliers require that 85 percent of purchases on account be paid in the month of purchase; the remaining 15 percent are paid in the month following the month of purchase. required complete the schedule of cash payments for inventory purchases by filling in the missing amounts. determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter.

It is most important to account for factors like warranties and durability when purchasing durable goods or very expensive items

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