The characteristic of limited liability enables corporations to
A) avoid taxes on some of their profits.
B) exist even when owners die.
C) raise large amounts of financial capital.
D) start up and dissolve easily.
Answer: C
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The demand for flour is
a. inelastic because there are few substitutes for flour and it represents a large percentage of a consumer's budget b. inelastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget c. inelastic because there are few substitutes for flour and it represents a small percentage of a consumer's budget d. elastic because there are no substitutes for flour and it represents a large percentage of a consumer's budget e. elastic because there are many substitutes for flour and it represents a large percentage of a consumer's budget
If a firm in a perfectly competitive market faces a market price of $8, and it decides to increase its production from 300 units to 550 units, the firm's total revenue will:
A. increase from $2,400 to $4,400. B. decrease from $4,400 to $2,400. C. stay the same at $8. D. likely rise, but it cannot be determined by how much.
Marginal revenue is the addition to total revenue resulting from the addition of one unit to total output
a. True b. False Indicate whether the statement is true or false
The opportunity costs of different policies must be weighed to solve which of the following obstacles?
A. Measurement problems. B. Implementation problems. C. Rational expectations problems. D. Goal conflicts.