Jan irving started a proprietorship on january 1, 2012 with a $1,000 cash contribution to the business. during the first year of operations the company generated $5,000 of cash revenue and incurred $2,000 of cash expenses. also jan withdrew $500 from the business. at the end of 2012 the balance in the jan irving. capitol account was

The sticky-price theory asserts that the output prices of some goods and services adjust slowly to changes in the price level. suppose firms announce the prices for their products in advance, based on an expected price level of 100 for the coming year. many of the firms sell their goods through catalogs and face high costs of reprinting if they change prices. the actual price level turns out to be 110. faced with high menu costs, the firms that rely on catalog sales choose not to adjust their prices. sales from catalogs will

As sales exceed the break‑even point, a high contribution‑margin percentage (a) increases profits faster than does a low contribution-margin percentage (b) increases profits at the same rate as a low contribution-margin percentage (c) decreases profits at the same rate as a low contribution-margin percentage (d) increases profits slower than does a low contribution-margin percentage

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