The limited ability to raise funds is a disadvantage for
A) sole proprietorships and partnerships. B) partnerships and corporations.
C) sole proprietorships and corporations D) corporations.
A
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The Law of Diminishing Marginal Returns states that:
A) successive increases in inputs eventually lead to less additional output. B) successive increases in product prices lead to a fall in revenue. C) the demand for a good decreases as the price of the good increases. D) the net benefits of a perfectly competitive firm decrease as more firms enter the market.
If a household’s income declines, then its budget line is
A. unaffected. B. going to be steeper. C. shift parallel, closer to the origin. D. shift parallel, further away from the origin. E. become more concave toward the origin.
Control of a scarce resource or input can serve as an entry barrier
a. True b. False Indicate whether the statement is true or false
An economic recession in the United States would shift the demand for foreign currencies outward, that is, increase demand
a. True b. False Indicate whether the statement is true or false