Tax advantages of being self-employed (rather than being an employee) include:. a. The self-employment tax is lower than the Social Security tax.
b. An office in the home deduction (from AGI) is available.
c. Job-related expenses are deductions for AGI.
d. The overall limitation (50%) on meals does not apply.

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.