Monitoring the performance of the people managing the firm is easiest in the case of

If the federal government imposes a new tax on golf clubs, that tax

A) encourages people to take up golf. B) encourages people to buy more golf balls. C) encourages fewer people to play golf. D) discourages people from switching from playing tennis to playing golf.

Supply tends to be more elastic in the short run and more inelastic in the long run

a. True b. False Indicate whether the statement is true or false