The income tax saved by using lifo instead of fifo is equal to the times the income tax rate. a. cost of the beginning inventory b. lifo reserve c. cost of the ending inventory d. retail price of the ending inventory

Plastic and steel are substitutes in the production of body panels for certain automobiles. if the price of plastic increases, with other things remaining the same, we would expect: a) the demand curve for plastic to shift to the left. b) the price of steel to fall. c) the demand curve for steel to shift to the left d) nothing to happen to steel because it is only a substitute for plastic. e) the demand curve for steel to shift to the right