Which of the following are not characteristics of the S Corporation?
a. Limited Liability
b. Profits are taxed only once
c. The firm must have more than 100 stockholders.
d. All of the above are characteristics of the S Corp.
c
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A minimum wage
A) increases all workers' surplus because the wage rate increases. B) increases consumer surplus because the price of the good decreases. C) decreases the firms' surplus because fewer workers are hired at the higher wage. D) increases the firms' surplus and the workers' surplus because it increases the efficiency of the labor market. E) None of the above answers is correct.
In the long run, a perfectly competitive firm can
A) only make an economic profit. B) only make zero economic profit. C) only incur an economic loss. D) make an economic profit, make zero economic profit, or incur an economic loss.
All Nash equilibria consist of Dominant Strategies
Indicate whether the statement is true or false
The marginal benefit of the pollution abatement curve
A) has a zero slope. B) has a positive slope. C) slopes upward. D) slopes downward.