How do the owners of a corporation relate to the business?
A) The owners and the business are not separate legal entities.
B) The owners and the business are separate legal entities.
C) The assets of the owners are considered the same as the assets of the business.
D) None of these describe the legal relationship of the owners to the business.
Answer: B
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At what level of output will average total cost increase?
a. when marginal cost is greater than average total cost b. when marginal cost is lower than average variable cost c. when marginal cost equals average variable cost d. when marginal cost equals average total cost
The demand curve for a product can be derived from consumer equilibrium by:
a. altering the prices of all other products. b. altering consumer incomes. c. shifting consumer preferences. d. altering the price of the good itself. e. knowing the demand curves for all other products.