Uppose you are given the following information about a particular industry: market demand푄푑=1600―150푃short run market supply푄푠=250푃the firm total cost function consists of a fixed cost of 45 and a variable cost of 푞25assume that all firms are identical in a market that is perfectly competitive. a) (1 point) correctly write the firm total cost functionb) (4 point) using the demand and supply curves for this industry, find the short run equilibrium price and quantity in the industry. c) (1 point) using the total cost function from part (a), derive the marginal cost function for firms in the industry. d) (4 points) using your answers to parts (b) and (c), find the quantity produced by each firm in a short run competitive equilibrium. find the profit or loss of each firm in the short run equilibrium.

Concrete consulting co. has the following accounts in its ledger: cash; accounts receivable; supplies; office equipment; accounts payable; jason payne, capital; jason payne, drawing; fees earned; rent expense; advertising expense; utilities expense; miscellaneous expense. transactions oct. 1 paid rent for the month, $3,600. 3 paid advertising expense, $1,200. 5 paid cash for supplies, $750. 6 purchased office equipment on account, $8,000. 10 received cash from customers on account, $14,800. 15 paid creditors on account, $7,110. 27 paid cash for miscellaneous expenses, $400. 30 paid telephone bill (utility expense) for the month, $250. 31 fees earned and billed to customers for the month, $33,100. 31 paid electricity bill (utility expense) for the month, $1,050. 31 withdrew cash for personal use, $2,500. journalize the following selected transactions for october 2019 in a two-column journal. refer to the chart of accounts for exact wording of account titles

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

How do communism and socialism differ in terms of the role that government plays in the economy ?