If the labor supply curve is very elastic, a tax on labor A. has a large deadweight loss. B. raises enough tax revenue to offset the loss in welfare. C. results in a large tax burden on the firms that hire labor. D. has a relatively small impact on the number of hours that workers choose to work.

The mayflower, a seafood restaurant, had the following liabilities by the end of 2015: accounts payable $60,000 wages payable $100,000 unearned revenue $125,000 (60% will be earned in 2016) notes payable $140,000 ($45,000 payable in 2016) what is the amount that the mayflower should report as total current liability on its balance sheet as of december 31, 2015?