the balance sheet of Purdy's BBQ reports total assets of $800,000 and $900,000 at the beginning and end of the year, respectively. Net income and sales for the year are $85,000 and $1,700,000, respectively. What is Purdy's asset turnover

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Markets and competition in a perfectly competitive market, all producers sell identical goods or services. additionally, there are many buyers and sellers. because of these two characteristics, both buyers and sellers in perfectly competitive markets are pricetakers . true or false: the market for lettuce does exhibit the two primary characteristics that define perfectly competitive markets. true false

Asmall company has 10,000 shares. joan owns 200 of these shares. the company decided to split its shares. what is joan's ownership percentage after the split