Economists say competitive markets are efficient because:
a. by producing in the output range where MB > MC, profits are earned and the difference between consumer surplus and producer surplus is maximized.
b. by producing in the output range where MB < MC, profits are reduced and the difference between consumer surplus and producer surplus is maximized.
c. by producing up to the point where MB > MC, profits are earned and the difference between the consumer surplus and producer surplus is maximized.
d. by producing up to the point where MB = MC, profits are maximized and the difference between the consumer surplus and producer surplus is maximized.

The link between volume of production and the cost of building manufacturing operations is particularly important in industries characterized byanswers: process innovations.product manufacturing.product innovation.process manufacturing.

On july 1, 2016, killearn company acquired 103,000 of the outstanding shares of shaun company for $21 per share. this acquisition gave killearn a 40 percent ownership of shaun and allowed killearn to significantly influence the investee's decisions. as of july 1, 2016, the investee had assets with a book value of $6 million and liabilities of $1,468,500. at the time, shaun held equipment appraised at $140,000 above book value; it was considered to have a seven-year remaining life with no salvage value. shaun also held a copyright with a five-year remaining life on its books that was undervalued by $562,500. any remaining excess cost was attributable to goodwill. depreciation and amortization are computed using the straight-line method. killearn applies the equity method for its investment in shaun. shaun's policy is to declare and pay a $1 per share cash dividend every april 1 and october 1. shaun's income, earned evenly throughout each year, was $580,000 in 2016, $606,600 in 2017, and $649,200 in 2018. in addition, killearn sold inventory costing $93,000 to shaun for $155,000 during 2017. shaun resold $97,500 of this inventory during 2017 and the remaining $57,500 during 2018.a. determine the equity income to be recognized by killearn during each of these years. 2016 2017 2018b. compute killearn’s investment in shaun company’s balance as of december 31, 2018.

Josie just bought her first fish tank a 36 -gallon glass aquarium, which she’s been saving up for almost a year to buy. for josie, the fish tank is most likely what type of purchase