8) Which of the following would result in a higher absolute value of the price elasticity of demand for a product? A) A wide variety of substitutes are available for the good. B) The good is a necessity. C) The expenditure on the good is small relative to one's budget. D) The time period under consideration is short.

Your aunt is thinking about opening a hardware store. she estimates that it would cost $300,000 per year to rent the location and buy the stock. in addition, she would have to quit her $45,000 per year job as an accountant. a. define opportunity cost. b. what is your aunt's opportunity cost of running a hardware store for a year? if your aunt thought she could sell $350,000 worth of merchandise in a year, should she open the store? explain.

On april 1, santa fe, inc. paid griffith publishing company $2,448 for 36-month subscriptions to several different magazines. santa fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what amount should appear in the prepaid subscription account for santa fe, inc. after adjustments on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustment has been made?

Robert is a district manager who oversees several store managers in a national chain of restaurants. robert reports directly to the vice president of stores and marketing, a member of top management. robert is a middle manager.t/f