According to the substitution effect, an increase in the price of oranges will: a. leave consumers with less money to spend on all goods. b. cause consumers to spend more on oranges because a higher price signals that oranges are better than apples. c. cause consumers to consume fewer apples because more money is spent on oranges. d. cause consumers to replace some oranges with other fruit that is now relatively cheaper than oranges.

During the month of march 2017, weimar world, a tax-preparation service, had the following transactions. * billed $496,000 in revenues on credit * received $164,000 from customers' accounts receivable * incurred expenses of $194,000 but only paid $87,700 cash for these expenses * prepaid $32,220 for computer services to be used next month what was the company's accrual basis net income for the month? select one: a. $302,000 b. $264,080 c. $ 41,860 d. $408,300 e. none of the above