Refer to the financial statements of flathead lake manufacturing company. the firm's return on equity ratio for 2012 is ( keep in mind that when a ratio involves both income statement and balance sheet numbers, the balance sheet numbers for the beginning and end of the year must be averaged.)

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided

Which of the following statements is (are) true? i. free entry to a perfectly competitive industry results in the industry's firms earning zero economic profit in the long run, except for the most efficient producers, who may earn economic rent. ii. in a perfectly competitive market, long-run equilibrium is characterized by lmc < p < latc. iii. if a competitive industry is in long-run equilibrium, a decrease in demand causes firms to earn negative profit because the market price will fall below average total cost.

Which of the following tends to result in a decrease in the selling price of houses in an area? a. an increase in the population of the city or town. b. an increase in the labor costs of construction. c. an increase in the income of new residents in the city or town. d. an increase in mortgage interest rates.