The dry cleaning industry is in monopolistic competition. in the short run, the profit-maximizing price is $10 per item and the average total cost is $6 per item. in long-run equilibrium, the profit-maximizing price is $8 per item. in long-run equilibrium, what is the economic profit of a firm in the dry cleaning industry? in long-run equilibrium, the dry cleaning firm makes $ economic profit.
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The cook corporation has two divisions--east and west. the divisions have the following revenues and expenses: east west sales $ 603,000 $ 506,000 variable costs 231,000 300,000 traceable fixed costs 151,500 192,000 allocated common corporate costs 128,600 156,000 net operating income (loss) $ 91,900 $ (142,000 ) the management of cook is considering the elimination of the west division. if the west division were eliminated, its traceable fixed costs could be avoided. total common corporate costs would be unaffected by this decision. given these data, the elimination of the west division would result in an overall company net operating income (loss)
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On december 31 of the current year, the unadjusted trial balance of a company using the percent of receivables method to estimate bad debt included the following: accounts receivable, debit balance of $97,900; allowance for doubtful accounts, credit balance of $1,031. what amount should be debited to bad debts expense, assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible?
Answers: 1
The dry cleaning industry is in monopolistic competition. in the short run, the profit-maximizing pr...
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