Which of the following is NOT a disadvantage of a proprietorship?
A) how profits are taxed
B) ability to raise capital
C) unlimited liability
D) the disposition of the firm when the owner dies
Answer: A
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During an economic downturn, Keynes argued that firms would have ________ to increase spending because ________.
A. no incentive; interest rates would be too high. B. no incentive; they already had enough capacity to meet demand. C. a strong incentive; interest rates would be too high. D. a strong incentive; they wouldn't have enough capacity to meet demand.
Tour companies and cruise lines often offer last minute fares that are far below the prices paid by customers who have booked their trips far in advance. Use marginal analysis to explain this pricing tactic
Firms operating in a perfectly competitive market have an incentive to advertise their products since this will increase the demand for their products
a. True b. False Indicate whether the statement is true or false
In the upward-sloping portion of the individual labor-supply curve, the substitution effect is
a. greater than the income effect. b. less than the income effect. c. equal to the income effect. d. exactly offset by the income effect.