Consider a perfectly competitive market for sandwiches. All firms in this market are identical, with total costs T C = 1 2 q 2 + 5q + 18 and marginal costs MC = 5 + q, where q is the quantity an individual firm produces. Market demand is given by QD = 175 2 − 5 2 P. (a) Find the break-even price and quantity for a firm in this market. (b) What is the supply curve of an individual firm in this market? (c) Suppose there are currently 5 firms in the market. What is the market supply curve? (d) Find the equilibrium market price and quantity. How many sandwiches will each firm produce, and what will be each firm’s profit? (e) In the long-run equilibrium, what will each firm’s profit be? What will happen to the number of firms in the market? Explain. (f) User your answer from (e) to determine the market price and firm quantity in the long run. (g) What will the market quantity be in the long run, and how many firms will be in the market?

P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.

Dakota products has a production budget as follows: may, 16,000 units; june, 19,000 units; and july, 24,000 units. each unit requires 3 pounds of raw material and 2 direct labor hours. dakota desires to keep an inventory of 10% of the next month’s requirements on hand. on may, 1 there were 4,800 pounds of raw material in inventory. direct labor hours required in may would be:

Fabian got into an accident on his way to work. he had multiple fractures in his leg. his doctor advised strict bed rest for at least three months.fabian is a freelance wildlife photographer who usually works on a contract basis, and this is his primary source of income. before the accident, fabian was planning his finances. which goal of his financial plan would fabian in getting through without pay for the next three months? the goal that requires the creation of a/an would fabian get through the next three months without pay.