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Economics

1. The balance in the supplies account, before adjustment at the end of the year, is $2,260. Journalize the adjusting entry required if the amount of supplies on hand at the end of the year is $1,062. Check My Work All work saved.

2.The profits earned by a firm can be calculated as (P - AVC) x 0 O (MC - AVC) x 0. O (P - ATC) x 0. PxO.
Question 6 1 pts In a competitive market in the long run, O inputs that were variable in the short run become fixed. the market supply curve is horizontal All of these are true number of firms are fixed.

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