Presented below are selected transactions at novak corp. for 2020. jan. 1 retired a piece of machinery that was purchased on january 1, 2010. the machine cost $62,300 on that date. it had a useful life of 10 years with no salvage value. june 30 sold a computer that was purchased on january 1, 2017. the computer cost $42,600. it had a useful life of 5 years with no salvage value. the computer was sold for $13,400. dec. 31 discarded a delivery truck that was purchased on january 1, 2016. the truck cost $42,300. it was depreciated based on a 6-year useful life with a $3,000 salvage value. journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. novak corp. uses straight-line depreciation. (assume depreciation is up to date as of december 31, 2019.)

Why is the cournot equilibrium an​ equilibrium? a. there are​ short-run barriers to exit in a cournot​ duopoly, so both firms cannot alter their output levels. b. given the other​ firm's level of​ production, both firms are maximizing profits and cannot improve their situation by unilaterally altering their level of output. c. both firms operate at zero profit under a cournot​ equilibrium, so they would face negative profits if they change output. d. both firms operate at minimum​ long-run average cost under a cournot​ equilibrium, so changes to output would reduce​ long-run profits. even if they​ can't collude, why​ don't firms set their outputs at the joint​ profit-maximizing levels​ (i. e., the levels they would have chosen had they​ colluded)? a. given that other firm produces at the collusive​ level, a firm could increase their own profits by increasing output above the collusive level. b. the midpoint of the collusion curve​ (i. e., the collusive​ outcome) lies below the reaction​ curves, so both firms have an incentive to increase output under the cournot duopoly. c. both a and b are correct d. both a and b are incorrect