Which of the following statements is true?
A) Corporations can issue stocks and bonds, while proprietorships cannot.
B) Corporations face fewer taxes than do proprietorships.
C) Corporations have one owner, while proprietorships have many owners.
D) Proprietorships have limited liability while corporations have unlimited liability.
A
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Refer to Figure 15-19 to answer the following questions
a. What quantity will this monopoly produce and what price will it charge? b. Suppose the monopoly is regulated. If the regulatory agency wants to achieve economic efficiency, what price should it require the monopoly to charge? c. To achieve economic efficiency, what quantity will the regulated monopoly produce? d. Will the regulated monopoly make a profit if it charges the price that will achieve economic efficiency? e. Suppose the government decides to regulate the monopoly by imposing a price ceiling of $35. What quantity will the monopoly produce and what price will the monopoly charge? f. With the price ceiling of $35, what profit will the monopoly earn?
Refer to the figure above. In free trade A will import
A) 700 units from country C. B) 700 units from C and 600 units from B. C) 600 units from C. D) 600 units from C and 400 units from B.
Price discrimination is the
A) refusal by a firm to sell to all customers. B) selling of a given product at more than one price when the price differences reflect cost differences. C) pricing of a product so that not everyone can afford it. D) selling of a given product at more than one price when the price difference is unrelated to cost differences.
In which of the following ways is a monopolist different from a perfect competitor?
A. Average cost will continually drop as output expands. B. Price is above marginal revenue. C. Average total cost equals average fixed costs plus average variable costs. D. The demand curve for the industry has a negative slope.