The law of demand states that the consumption of a good decreases as its price increases, all other things equal. This "law" is actually not always true, because there are goods whose consumption increases when their price increases, all other things equal. A. True. B. False.

Right medical introduced a new implant that carries a five-year warranty against manufacturer’s defects. based on industry experience with similar product introductions, warranty costs are expected to approximate 2% of sales. sales were $8 million and actual warranty expenditures were $42,750 for the first year of selling the product. what amount (if any) should right report as a liability at the end of the year?