Supply curves tend to be
multiple choice
a. less elastic in the long run because there is time for firms to enter or leave an industry.
b. perfectly inelastic in the long run because the law of scarcity imposes absolute limits on production.
c. perfectly elastic in the long run because consumer demand will have sufficient time to adjust fully to changes in supply.
d. more elastic in the long run because there is time for firms to enter or leave the industry.

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800

What two things do you consider when evaluating the time value of money

Kimberly has been jonah in preparing his personal income tax forms for a couple of years. jonah's boss recommended kimberly because she had done a good job setting up the company's new accounting system. jonah is very satisfied with kimberly's work and feels that the fees she charges are quite reasonable. kimberly would be classified as a(n) (a) independent auditor (b) private accountant (c) public accountant (d) accounting broker