Consider a perfectly competitive market for sandwiches. All firms in this market are identical, with total costs T C = 1 2 q 2 + 5q + 18 and marginal costs MC = 5 + q, where q is the quantity an individual firm produces. Market demand is given by QD = 175 2 − 5 2 P. (a) Find the break-even price and quantity for a firm in this market. (b) What is the supply curve of an individual firm in this market? (c) Suppose there are currently 5 firms in the market. What is the market supply curve? (d) Find the equilibrium market price and quantity. How many sandwiches will each firm produce, and what will be each firm’s profit? (e) In the long-run equilibrium, what will each firm’s profit be? What will happen to the number of firms in the market? Explain. (f) User your answer from (e) to determine the market price and firm quantity in the long run. (g) What will the market quantity be in the long run, and how many firms will be in the market?

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices

For each of the following cases determine the ending balance in the inventory account. (hint: first, determine the total cost of inventory available for sale. next, subtract the cost of the inventory sold to arrive at the ending balance.)a. jill’s dress shop had a beginning balance in its inventory account of $40,000. during the accounting period jill’s purchased $75,000 of inventory, returned $5,000 of inventory, and obtained $750 of purchases discounts. jill’s incurred $1,000 of transportation-in cost and $600 of transportation-out cost. salaries of sales personnel amounted to $31,000. administrative expenses amounted to $35,600. cost of goods sold amounted to $82,300.b. ken’s bait shop had a beginning balance in its inventory account of $8,000. during the accounting period ken’s purchased $36,900 of inventory, obtained $1,200 of purchases allowances, and received $360 of purchases discounts. sales discounts amounted to $640. ken’s incurred $900 of transportation-in cost and $260 of transportation-out cost. selling and administrative cost amounted to $12,300. cost of goods sold amounted to $33,900.a& b. cost of goods avaliable for sale? ending inventory?

Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.