On December 31, 2020, Wildhorse Inc. rendered services to Beghun Corporation at an agreed price of $106,131, accepting $41,600 down and agreeing to accept the balance in four equal installments of $20,800 receivable each December 31. An assumed interest rate of 11% is imputed. Required:Provide the journal entries for the first 2 years of the installments.

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.