A prospective homeowner wants to determine how much she can borrow in the form of a fixed-rate 20-year mortgage. Mortgages of that maturity carry a fixed interest rate of 9.00%. She estimates that she can afford annual, pre-tax payments (interest plus principal) on her mortgage of $25,000 (for simplicity, assume that mortgage payments are made once a year at the end of the year).

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

On january 1, eastern college received $1,350,000 from its students for the spring semester that it recorded in unearned tuition and fees. the term spans four months beginning on january 2 and the college spreads the revenue evenly over the months of the term. assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on february 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.)