A disadvantage of the corporate form of business organization is
A) double taxation.
B) limited access to capital.
C) that the corporation can only do business in the state where it was incorporated.
D) unlimited liability for shareholders.
Answer: A
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Whether an externality is positive or negative, it is always
A) evaluated by the Supreme Court of the United States. B) evaluated by the government. C) evaluated by the impact on the third party. D) judged by the profitability of the firm producing the product.
A horizontal long-run average cost curve indicates
A. constant returns to scale. B. constant marginal physical product. C. diseconomies of scale. D. economies of scale.
Using the above table, what is the opportunity cost of moving from alternative C to alternative D?
A) 60 loaves of bread B) 2 loaves of bread C) 30 loaves of bread D) 1/2 loaf of bread
In general, we would expect the marginal cost of pollution abatement to be
A) zero. B) decreasing. C) increasing. D) constant.