As a business type, corporations ________ in the United States
A) earn the majority of revenues
B) are the most common
C) are the least common
D) are subject to the fewest taxes
Answer: A
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Using the above table, when Jefferson's Cleaners hires three workers
A) the average product of labor is greater than the marginal product. B) the marginal product of labor is greater than the average product. C) it has already experienced diminishing marginal returns. D) Both answers A and C are correct.
Which of the following described the monopolist’s marginal revenue curve on a graph?
a. Lies above the demand curve b. Is the same as the demand curve c. Lies below the demand curve d. Is a horizontal line at market price
Which of the following examples is experiencing diseconomies of scale?
a. As the Chewy sandwich chain expanded, it received volume discounts on meats, produce, paper products, and other items. b. As the Polaris marketing firm expanded overseas, the difficulty of managing the enterprise across several languages and time zones led to higher average costs. c. Costs at Patel Accounting LLC are steady regardless of how many clients the firm has. d. Northside Rehabilitation was able to cut costs while expanding by having its staff specialize in different treatment methods.
Table 4-1
Use this table for the following questions.