The financial statements of Island Furniture Company include the following items: 2019 2018 Cash $45,500 $44,000 Short minus −term Investments 30,000 14,500 Net Accounts Receivable 92,000 98,000 Merchandise Inventory 165,000 149,000 Total Assets 530,000 550,000 Total Current Liabilities 306,000 293,000 Long minus −term Note Payable 62,000 59,000 What is the 2019 acid−test ratio

An increase in the market price of men's haircuts, from $16 per haircut to $26 per haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from 20 to 25. when the $26 market price remains unchanged for several weeks and all other things remain equal as well, the barbershop hires additional employees and provides 40 haircuts per day. what is the short-run price elasticity of supply? nothing (your answer should have two decimal places.) what is the long-run price elasticity of supply? nothing (your answer should have two decimal places.)