Wanting to finalize a sale before year-end, on december 29, wr outfitters sold to bob a warehouse and the land for $201,000. the appraised fair market value of the warehouse was $112,250, and the appraised value of the land was $141,750. (do not round intermediate calculations. round your final answers to the nearest whole dollar amount.)

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.