Imagine an illness with two cures—drug x and drug y. drug x and drug y are both made by the same firm. two events recently happened. first, a study was released showing that drug x is less effective than drug y. second, the ingredients used to produce drug x increased in price. what are the consequences of these events?

Ursus, inc., is considering a project that would have a five-year life and would require a $1,650,000 investment in equipment. at the end of five years, the project would terminate and the equipment would have no salvage value. the project would provide net operating income each year as follows (ignore income taxes.):

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Because the demand for wheat tends to be inelastic. true or false