Quantity of labor total product total revenue 1 4 $16 2 8 32 3 11 44 4 13 52 5 14 56 refer to the given data. if this firm can hire as few or many workers as it wants at $8, it is multiple choice selling its product in a monopolized product market. hiring labor in a purely competitive labor market. selling its product in a purely competitive product market. hiring labor in a monopsony labor market.

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?