According to a company's unadjusted trial balance at dec. 31, the balance in the unearned revenue account was $800. this balance represents receipt of four months of service received on december 1 from a customer. the monthly contract service to be provided is for the months of dec., jan., feb. and march. the required adjusting entry for dec. 31 would be:

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.)