Crowell company has the following adjusted trial balance: debit credit cash 700 accounts receivable 300 prepaid rent 100 equipment 4,000 accumulated depreciation-equipment 2,200 accounts payable 300 unearned service revenue 200 common stock 500 retained earnings 1,000 service revenue 2,500 interest revenue 100 salaries and wages expense 800 depreciation expense 500 rent expense 400 total 6,800 6,800 after closing entries have been journalized and posted, the balance in the company's retained earnings account will be
a. $8,450b. $4,350c. $4,550d. $4,700e. $5,050

Because this market is a monopolistically competitive market, you can tell that it is in long-run equilibrium by the fact thatmr=mc at the optimal quantity for each firm. furthermore, a monopolistically competitive firm's average total cost in long-run equilibrium isless than the minimum average total cost. true or false: this indicates that there is a markup on marginal cost in the market for engines. true false monopolistic competition may also be socially inefficient because there are too many or too few firms in the market. the presence of the externality implies that there is too little entry of new firms in the market.