Suppose that firms in a monopolistically competitive industry are making positive profits in the short run. Choose the correct answers below to describe what will happen in this industry in the long run?
Since profits are greater than zero:
a- firms will enter
b- the number of firms will not change
c- firms will exit .
As this occurs, demand for each firm will:.
a- increase
b- stay the same
c- decrease .

Lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal.

Which of the following entries would be made to record the requisition of $12,000 of direct materials and $6,900 of indirect materials? (assume that indirect materials are included in raw materials inventory.) a. manufacturing overhead 18,900 raw materials inventory 18,900 b. wip inventory 12,000 manufacturing overhead 6,900 raw materials inventory 18,900 c. raw materials inventory 18,900 wip inventory 18,900 d. wip inventory 18,900 raw materials inventory 18,900

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