Hawaiian specialty foods purchased equipment for $12,000. residual value at the end of an estimated four-year service life is expected to be $1,200. the machine operated for 1,700 hours in the first year, and the company expects the machine to operate for a total of 10,000 hours. calculate depreciation expense for the first year using each of the following depreciation methods:

(1) straight-line,
(2) double-declining-balance, and
(3) activity-based.

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

"richard wants to know how his company handles late lunches but does not want to ask anyone. instead, he watches others take late lunches and observes the manager's reaction. richard is"

"in the electricity industry, low average total costs are obtained only through large-scale production. in other words, the initial cost of setting up all the necessary wiring makes it risky and, most likely, unprofitable for competitors to enter the market. throughout much of the 20th century, many people viewed south africa’s de beers group as a monopoly because it controlled a large percentage of diamond production and sales. patents are granted to inventors of a product or process for a certain number of years. the reason for this is to encourage innovation in the economy. without the existence of patents, it is argued, research and development for improved electronics is unlikely to take place, since there’s nothing preventing another firm from stealing the idea, copying the product, and producing it without incurring the devel opment costs."which of the following best explains the barriers to entry that exist in this scenario? increasing returns to scale legal barriers exclusive ownership of a necessary resource