Consider the market for baseball caps. there are many producers in this market, and we assume that the technology of production is identical among these producers. a typical producer in this market has a u-shaped average variable cost curve with the minimum average variable cost at $2.50, and a u-shaped average total cost curve with the minimum average total cost at $3.50. what does the market supply of baseball caps look like in the long run?

(a) an upward-sloping curve that starts at the price of zero
(b) an upward-sloping curve that starts at the price of $3.50, with zero supply at a price less than $3.50
(c) an upward-sloping curve that starts at the price of $2.50, with zero supply at a price less than $2.50
(d) a horizontal line at a price of $3.50

If a company’s employees are angry about their work, a visiting auditor may also become agitated, illustrating the power of

Select all that apply. select the ways that labor unions can increase wages. collective bargaining reducing the labor supply increasing the demand for labor creating monopolies

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.