Which of the following statements is not correct? Monopolistic competition is similar to monopoly because in each market structure the firm can charge a price above marginal costs in the long run Monopolistic competition is similar to perfect competition because both market structures are characterized by free entry. Monopolistic competition is similar to perfect competition because both market structures are characterized by long run normal profits. Monopolistic competition is similar to perfect competition because both market structures are characterized by many sellers.

Wilson center is a private not-for-profit voluntary health and welfare entity. during 2017, it received unrestricted pledges of $638,000, 65 percent of which were payable in 2017, with the remainder payable in 2018 (for use in 2018). officials estimate that 14 percent of all pledges will be uncollectible. a. how much should wilson center report as contribution revenue for 2017? b. in addition, a local social worker, earning $20 per hour working for the state government, contributed 600 hours of time to wilson center at no charge. without these donated services, the organization would have hired an additional staff person. how should wilson center record the contributed service?