When new firms enter a monopolistically competitive market, the economic profits of existing firms a. will decrease because their demand curves will shift to the left. b. will decrease because their demand curves will become more inelastic. c. will decrease because their demand curves will shift to the right. d. will remain unchanged because they sell differentiated products. e. will increase because their average cost of production will decrease.
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Salge inc. bases its manufacturing overhead budget on budgeted direct labor-hours. the variable overhead rate is $8.10 per direct labor-hour. the company's budgeted fixed manufacturing overhead is $74,730 per month, which includes depreciation of $20,670. all other fixed manufacturing overhead costs represent current cash flows. the direct labor budget indicates that 5,300 direct labor-hours will be required in september. the company recomputes its predetermined overhead rate every month. the predetermined overhead rate for september should be:
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When new firms enter a monopolistically competitive market, the economic profits of existing firms a...
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