The basic disadvantage of a proprietorship is unlimited liability.
Answer the following statement true (T) or false (F)
True
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Wait unemployment and search unemployment are both types of
A. structural unemployment. B. cyclical unemployment. C. frictional unemployment. D. hidden unemployment.
The above figure shows the cost curves for a competitive firm. The firm will incur economic losses if the price is less than
A) $0. B) $5. C) $10. D) $11.
If a country were to increase its saving rate, then in the long run it would also increase its
a. level of income. b. growth rate of income. c. growth rate of productivity. d. All of the above are correct.
Which of the following is TRUE?
A. Price discrimination guarantees that the monopolist will make a profit. B. Price discrimination occurs when there are differences in prices that reflect differences in marginal cost. C. Monopoly results in a higher quantity of output being sold compared with perfect competition. D. Charging all customers the same price when costs vary can actually be a case of price discrimination.