Landau Gears provides the following cost information related to its production of its primary product: Per Unit Variable manufacturing cost $12 Fixed manufacturing cost 8 Variable selling and administrative expenses 2 Fixed selling and administrative expenses 3 Desired ROI per unit 7 What is the markup percentage assuming that Landau Gears uses absorption costing? a. 60% b. 35% c. 100% d. 28%

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)