The given statements refer to the pricing, economic efficiency, and resource allocation for monopolistically competitive firms. label the statements as being either true or false. each term is used more than once. statement 1: monopolistically competitive firms will produce where price=marginal revenue=marginal cost in the short run. statement 2: monopolistically competitive firms are inefficient in their use of resources since they produce at the point where marginal revenue=marginal cost, which means that price> marginal cost in the short run.

income statement is prepared in order to show the profits and loss of a business. in order to prepare the income statement she should collect all the income and expenses of the product with the cost of production.

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o

answer; balance sheets;