If the death of an owner causes the firm to dissolve, the firm must have been
A) a partnership only.
B) a proprietorship only.
C) a corporation only.
D) either a proprietorship or a partnership.
D
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Lisa prepared a delicious dinner for her friends after making the following purchases at the local supermarket. For which of the purchases would Lisa not be choosing among goods having product differentiation?
a. canned tomatoes b. fresh eggplant c. boxed spaghetti d. shredded cheese e. red wine
The long-run equilibrium in a competitive market characterized by firms with identical costs is generally characterized by firms operating at efficient scale
a. True b. False Indicate whether the statement is true or false
The ratio of the marginal utility of tea to the marginal utility of scones is six for an individual maximizing utility. This implies that
A. the tea to scones price ratio is six to one. B. the tea to scones price ratio is one to six. C. a scone is six times more valuable than a cup of tea. D. this person always eats scones with tea.
An exogenous rise in government expenditures will have the same effect on GDP as an equal rise in either autonomous ________ or autonomous ________
A) consumption; investment B) taxes; consumption C) savings; investment D) taxes; investment