Amarillo company experienced the following events during its first accounting period. (1) purchased $5,000 of inventory on account under terms 1/10/n30. (2) returned $1,000 of the inventory purchased in event 1. (3) paid the remaining balance in account payable within the discount period for the inventory purchased in event 1.based on this information, which of the following shows how paying off the account payable account (event 3) will affect the company’s financial statements?

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.