Which of the following is NOT a disadvantage of a proprietorship?

A. ability to raise capital
B. the disposition of the firm when the owner dies
C. how profits are taxed
D. unlimited liability

Answer: C

Economics

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Consider the utility function . Which of the following are true statements about the indifference maps represented by this function.

A.

MRS=-1 along the 45 degree line if and only if .

B.
MRS=-1 along a ray steeper than the 45 degree line if and only if .

C.
MRS=-1 along a ray shallower than the 45 degree line if and only if .

D.
All of the above.

E.
None of the above.

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Economics

In a multiple regression problem involving two independent variables, if b1 is computed to be +2.0, it means that:

A) the relationship between X1 and Y is significant. B) the estimated value of Y increases by an average of 2 units for each increase of 1 unit of X1, holding X2 constant. C) the estimated value of Y increases by an average of 2 units for each increase of 1 unit of X1, without regard to X2. D) the estimated average value of Y is 2 when X1 equals zero.

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Economics

The demand for the product of a monopolistically competitive firm is highly elastic when

A) firms collude. B) there are fewer firms in the industry. C) there is a lot of product differentiation. D) there are a lot of close substitutes.

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A utility-maximizing consumer equalizes marginal utilities across all goods

a. True b. False

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Economics