Your pay stub from your job deducts money for fica. what does this mean?

a. money is being withheld to fund social security and medicare.

b. money is being withheld for federal, state, and city taxes.

c. money is being withheld for personal exemptions and deductions.

d. money is being withheld for excise and estate taxes.

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.