MICROECONOMICS(LL)COMPANION
MICROECONOMICS(LL)COMPANION
21st Edition
ISBN: 9781260713541
Author: McConnell
Publisher: MCG
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Chapter 9, Problem 2RQ

Which of the following are short-run and which are long-run adjustments? LO9.1

a.    Wendy’s builds a new restaurant.

b.    Harley-Davidson Corporation hires 200 more production workers.

c.    A farmer increases the amount of fertilizer used on his corn crop.

d.    An Alcoa aluminum plant adds a third shift of workers.

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Frederick Jones operates a sole proprietorship business in Trinidad and Tobago. His gross annual revenue in 2023 was $2,000,000. He wants to register for VAT, but he is unsure of what VAT entails, the requirements for registration and what he needs to do to ensure that he is fully compliant with VAT regulations. Make reference to the Vat Act of Trinidad and Tobago and explain to Mr. Jones what VAT entails, the requirements for registration and the requirements to be fully compliant with VAT regulations.
Can you show me the answers for parts a and b? Thanks.
What are the answers for parts a and b? Thanks
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