The owners of which type of firm have the most liability?
A. Limited partnership.
B. Partnership.
C. Proprietorship.
D. Corporation.
Answer: C
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Compared to a perfectly competitive industry, a monopolist with the same marginal cost and demand curve will charge:
a. a higher price and produce a higher volume of output. b. a lower price and produce a higher volume of output. c. a lower price and produce a lower volume of output. d. a higher price and produce a lower volume of output. e. the same price and produce the same volume of output.
The average variable cost, the average total cost, and the marginal cost start to diminish only after the firm reaches the point of efficient scale
a. True b. False Indicate whether the statement is true or false
There are several government agencies in the United States that regularly check the balance sheets of banks. This is done to ensure that: a. banks take on risky projects that will earn high returns. b. banks have a positive net worth. c. banks earn sufficient profits
d. banks lend to customers with poor credit ratings.
A cost that has already been paid and cannot be recovered
What will be an ideal response?