A project will produce cash inflows, after tax, of $4,300 a year for 4 years, beginning one year from today. The project is expected to be sold for $1,750 at the end of year 4. The project’s initial cost is $12,000, today. What is the net present value of this project if the required rate of return is 12 percent? (Round answers to the nearest dollar.) -$52 $26,173 $1,061 $2,173 $14,173

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.